31. what is the quantity at equilibrium? (ssemi2c)\na 200\nb 400\nc 600\nd 1200\n32. how many movies would…

31. what is the quantity at equilibrium? (ssemi2c)\na 200\nb 400\nc 600\nd 1200\n32. how many movies would be demanded at $10.00?\na 200\nb 400\nc 600\nd 800\n33. how many movies will be demanded at a price of $16? (ssemi2c)\na 200\nb 400\nc 600\nd 800\n34. how many movies will be supplied at a price of $16? (ssemi2c)\na 200\nb 400\nc 600\nd 800\n35. if the government were to set the maximum price a video store can charge for movies at $12, what would happen? (ssemi3b)\na shortage of 400 movie videos\nb surplus of 400 movie videos\nc demand would be 400 movie videos\nd equilibrium price would increase\n36. if the government were to set the maximum price a video store can charge for movies at $12, it would be an example of an effective: (ssemi3b)\na price floor\nb price ceiling\nc price wall\nd. price border\n37. the price of bread increases, what is the typical consumer response?\na. quantity demanded decreases\nb. quantity demanded decreases\nc. quantity supplied stays the same\nd. quantity demanded remains constant\n38. what is the definition of microeconomics?\na. the study of individual units in the economy\nb. the study of the economy as a whole.\nc. the study of the world economy\nd. the study of global economics\n39. what would cause the equilibrium price to drop to $12? (ssemi3a)\na producers’ expectations about the future becomes more negative\nb consumers’ expectation about the future becomes more positive\nc number of consumers in the market decreases\nd number of producers in the market decreases\n40. what states that the relationship between price and quantity is direct? (ssemi2a)\na law of demand\nb law of supply\nc law of elasticity\nd law of diminishing utility\n41. in what order do the 3 stages of production occur?\na negative returns, diminishing returns, increasing returns\nb diminishing returns, increasing returns, negative returns\nc increasing returns, diminishing returns, negative returns\nd increasing returns, negative returns, diminishing returns

31. what is the quantity at equilibrium? (ssemi2c)\na 200\nb 400\nc 600\nd 1200\n32. how many movies would be demanded at $10.00?\na 200\nb 400\nc 600\nd 800\n33. how many movies will be demanded at a price of $16? (ssemi2c)\na 200\nb 400\nc 600\nd 800\n34. how many movies will be supplied at a price of $16? (ssemi2c)\na 200\nb 400\nc 600\nd 800\n35. if the government were to set the maximum price a video store can charge for movies at $12, what would happen? (ssemi3b)\na shortage of 400 movie videos\nb surplus of 400 movie videos\nc demand would be 400 movie videos\nd equilibrium price would increase\n36. if the government were to set the maximum price a video store can charge for movies at $12, it would be an example of an effective: (ssemi3b)\na price floor\nb price ceiling\nc price wall\nd. price border\n37. the price of bread increases, what is the typical consumer response?\na. quantity demanded decreases\nb. quantity demanded decreases\nc. quantity supplied stays the same\nd. quantity demanded remains constant\n38. what is the definition of microeconomics?\na. the study of individual units in the economy\nb. the study of the economy as a whole.\nc. the study of the world economy\nd. the study of global economics\n39. what would cause the equilibrium price to drop to $12? (ssemi3a)\na producers’ expectations about the future becomes more negative\nb consumers’ expectation about the future becomes more positive\nc number of consumers in the market decreases\nd number of producers in the market decreases\n40. what states that the relationship between price and quantity is direct? (ssemi2a)\na law of demand\nb law of supply\nc law of elasticity\nd law of diminishing utility\n41. in what order do the 3 stages of production occur?\na negative returns, diminishing returns, increasing returns\nb diminishing returns, increasing returns, negative returns\nc increasing returns, diminishing returns, negative returns\nd increasing returns, negative returns, diminishing returns

Answer

Brief Explanations:

  1. Without additional supply - demand data, we can't determine equilibrium quantity. But in general economics knowledge, equilibrium is where supply equals demand.
  2. Without a demand - price relationship graph or function, we can't answer. But usually, we find quantity demanded from demand curve at a given price.
  3. Similar to 32, need demand - price relationship.
  4. Need supply - price relationship to find quantity supplied at a price.
  5. When government sets a maximum price (price ceiling) below equilibrium, quantity demanded exceeds quantity supplied, causing a shortage.
  6. A maximum price set by government is a price ceiling.
  7. According to the law of demand, when price of a good (bread) increases, quantity demanded decreases.
  8. Microeconomics studies individual units in the economy.
  9. Producers having more negative expectations about the future may increase current supply, lowering equilibrium price.
  10. The law of supply states a direct relationship between price and quantity.
  11. The three - stage of production is increasing returns, diminishing returns, negative returns.

Answer:

  1. Insufficient information to answer
  2. Insufficient information to answer
  3. Insufficient information to answer
  4. Insufficient information to answer
  5. A. Shortage of 400 movie videos
  6. B. Price ceiling
  7. A. Quantity demanded decreases
  8. A. The study of individual units in the economy
  9. A. Producers’ expectations about the future becomes more negative
  10. B. Law of Supply
  11. C. Increasing returns, diminishing returns, negative returns