Ecs1501 Assignment 7 semester 2 2023

10/6/23, 12:47 PM Assessment 7 (page 2 of 18)




UNISA  2023  ECS1501-23-S2  Assessments  Assessment 7

QUIZ




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Question 2
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A decrease in the price of hamburgers would probably
result in _____ in the demand for hamburger patties.


random uctuations
no change
an increase
a decrease
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Question 3
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A decrease in demand and a decrease in supply will
lead to _____ in equilibrium quantity and _____ in
equilibrium price.


an indeterminate change; a decrease
an increase; an indeterminate change
a decrease; an indeterminate change
an indeterminate change; an increase

Clear my choice




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, 10/6/23, 12:52 PM Assessment 7 (page 3 of 18)




UNISA  2023  ECS1501-23-S2  Assessments  Assessment 7

QUIZ




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Question 4
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If coffee and tea are viewed as substitutes in
consumption, then an increase in the price of coffee
will


increase the demand for tea.
increase the supply of tea.
decrease the demand for tea.
increase the supply of coffee.
Clear my choice




Question 5
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In the market for canned brown beans, _____ will
increase if income decreases and if brown beans are
a(n) _____ good.


demand; normal
supply; normal
supply; inferior
demand; inferior

Clear my choice




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