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Assume the Market in the Graph Shown Was Originally

Question 154
Multiple Choice

img Assume the market in the graph shown was originally at an equilibrium with demand D and supply S.The original equilibrium price and quantity were,respectively: A) $5 and 30. B) $5 and 20. C) $10 and 20. D) $20 and 10.

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Q 155
Assume the graph shown represents the market for bottles of wine and was originally in equilibrium with D and S.Something changes and demand shifts to D2.Which of the following is true? A) Equilibrium price increased by $5. B) Equilibrium quantity increased by 20. C) Equilibrium price increased by $15. D) Equilibrium quantity increased by 30.
Q 156
Assume the graph shown represents the market for pizzas sold in an hour.If the original equilibrium was D and S1.Which of the following is true when S1 shifted to S2? A) Equilibrium price decreased by $5. B) Equilibrium quantity increased by 20. C) Equilibrium price increased by $5. D) Equilibrium quantity increased by 30.
Q 157
Assume the graph shown represents the market for pizzas sold in an hour.If the original equilibrium was D and S1.Which of the following could be a reason S1 shifted to S2? A) The price of pizza sauce has increased. B) The price of pizza went down. C) The price of labor for pizza shops went down. D) None of these things would cause such a shift.
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