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https://uk.instructure.com/courses/1922096/quizzes/3416104/take Normal Goods D Question 6 1 pts Account The manager of the Euclid Kroger notices that when the price of bread increases, the quantity sold at his store falls. What phenomenon best describes this? Courses Shifts in demand The demand schedule The law of demand Shifts in quantity demanded Calendar Inbox Help D Question 7 1 pts The cost of microchips has gone down with Moore's Law (that the number of transistors in a dense integrated circuit doubles approximately every two years). Microchips are used in the production of computers. What has been the result in the market for computers? Quantity demanded has increased Supply has increased Demand has increased Quantity supplied has increased DQuestion 8 1 pts

Explanation / Answer

6) Law of demand

Law of demand states that when price of the good increases quantity demand falls, ceteris Paribus.

7) supply has increased

Decrease in the price of microchips which is an input for producing computers is a decrease in cost of production which leads to increase in supply.

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