1) Please refer to the chart above. At which point on the demand curve would we
ID: 2494882 • Letter: 1
Question
1) Please refer to the chart above. At which point on the demand curve would we end up on when there is a price increase in pizza?
A) Point B
B) Point F
C) Point D
D) Point H
2) Please refer to the chart above. At which point on the demand curve would we end up on when there is decrease of consumers in the market for pizza?
A) Point H
B) Point A
C) Point G
D) Point C
3) Please refer to the chart above. At which point on the demand curve would we end up on when there consumers expect the price of pizza to increase next week?
A) Point A
B) Point H
C) Point G
D) Point E
4) Please refer to the chart above. At which point on the demand curve would we end up on when there is a nation-wide recession?
A) Point F
B) Point A
C) Point I
D) Point H
5) Please refer to the chart above. At which point on the demand curve would we end up on when there is a price increase in tacos?
A) Point B
B) Point F
C) Point G
D) Point H
6) Please refer to the chart above. At which point on the supply curve would we end up on when there is a price increase in pizza?
A) Point G
B) Point C
C) Point I
D) Point E
7) Please refer to the chart above. At which point on the supply curve would we end up on when the price of tomatoes decreases?
A) Point B
B) Point H
C) Point A
D) Point I
8) Please refer to the chart above. At which point on the supply curve would we end up on when there is a new invention in the market to bake faster?
A) Point I
B) Point A
C) Point D
D) Point E
9) Please refer to the chart above. At which point on the supply curve would we end up on when there are less suppliers in the pizza market?
A) Point F
B) Point G
C) Point C
D) Point H
10) Please refer to the chart above. At which point on the supply curve would we end up on when there is a tax increase in pizza?
A) Point G
B) Point I
C) Point H
D) Point F
I realize its multiple questions but they all relate to the same graph
Explanation / Answer
- Movement along both the curve takes place when there is a change in price. and shift is observed when non price factors change.
1. Increase in price of pizza would result in upward movement along demand curve. point F
2. Decrease in consumers in the market means leftward shift in demand curve. POINT H
3. Price to go up next week implies increase in demand now ( rightward shift) . Point G
4. Recession means decrease in income. That will result in downward shift in demand curve. POINT H
5. Increase in TACOS price - Demand for pizza decreases(shift). POINT H
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