11. The market for a good was in equilibrium. A change occurred which resulted in a new equilibrium with a higher price for the good and a lower quantity traded. What change would have caused this?A) The demand curve moved to the leftB) The demand curve moved to the rightC) The supply curve moved to the leftD) The supply curve moved to the right

What occurs when the market price is above the equilibrium price?ShortageSurplusNo changeDemand shifts to the left

Which of the following causes the demand curve to shift to the right?*1 pointA. A reduction in the size of populationB. An increase in the income of the buyerC. The availability of substitutesD. A decrease in price of the good

If the demand curve for a good is horizontal and the price is positive, then a leftward shift of the supply curve results inGroup of answer choicesa price of zero.an increase in price.a decrease in price.no change in price.

Which of the following would cause a movement along the supply curve? A change in the cost of inputs A change in technology A change in the number of sellers A change in the price of the product

Which of the following will result in a DECREASE in demand (i.e., a leftward shift of the demand curve)?An increase in the price of a complement to the goodAn increase in income, if the good is normalAn increase in the price of a substitute for the goodAn increase in the size of the market