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Demand, Supply, Equilibrium - Weebly

Name:_____ H:\AP Econ\2. supply and Demand3,4,20,21\ supply and demand \ Supply, demand , Equilibrium test demand , supply , Equilibrium Multiple Choice Identify the letter of the choice that best completes the statement or answers the question. ____ 1. Which of the following would NOT be a determinant of demand ? a. the price of related goods b. income c. tastes d. the prices of the inputs used to produce the good ____ 2. If the price of a substitute to good X increases, then a. the demand for good X will increase.

Supply and Demand3,4,20,21\Supply and Demand\Supply,demand, equilibrium test questions.docx Graph 6-4 ____ 33. According to Graph 6-4, when the supply curve for gasoline shifts from S 1 to S 2 a. the price will increase to P 3. b. a …

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