Answer Happy

The relationship between quantity supplied and price is _____and the relationship between quantity demanded and price is_____.
A) direct, inverse
B) inverse, direct
C) inverse, inverse
D) direct, direct
If average income increases, all else equal, then there willbe:
A) a shift of the demand curve.
B) a movement along the demand curve.
C) a movement along and a shift in the demand curve.
D) no effect on the demand curve, because income is nota ceteris paribus
The law of supply indicates that:
A) producers will offer more of a product at high prices thanthey will at low prices.
B) the product supply curve is downsloping.
C) consumers will purchase less of a good at high prices thanthey will at low prices.
D) producers will offer more of a product at low prices thanthey will at high prices.