11/21/23,p9:31pPM ManagerialpEconomicspandpBusinesspStrategyp8thpEditionpbypBayepandpPri
…
Chapterp02
pMarketpForces:pDemandpandpSupp
ly
MultiplepChoicepQuestions
1. Inpapcompetitivepmarket,pthepmarketpdemandpispQdp=p60p-
p6PpandpthepmarketpsupplypispQsp=p4P.pAp pricepceilingpofp$3pwillpresultpinpa
A. shortagepofp30punits.
B. shortagepofp15punits.
C. surpluspofp30punits.
D. surpluspofp12punits.
2. Inpapcompetitivepmarket,pthepmarketpdemandpispQdp=p60p-
p6PpandpthepmarketpsupplypispQsp=p4P.pThep fullpeconomicppricepunderpappricepceilingpofp$3
pis
A. 6.
B. 7.
C. 8.
D. 9.
2-1
©p2014pbypMcGraw-
Hill pEducation. pThispis pproprietarypmaterialpsolelypforpauthorized pinstructorpuse.pNotpauthorizedpforpsale porpdistributionp inpany
pmanner. pThispdocument pmaypnotpbepcopied, pscanned, pduplicated, pforwarded, pdistributed, por ppostedponpapwebsite, pinpwhole por
ppart.
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,11/21/23,p9:31pPM ManagerialpEconomicspandpBusinesspStrategyp8thpEditionpbypBayepandpPri
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3. Thepbuyerpsidepofpthepmarketpispknownpaspthe:
A. incomepside.
B. demandpside.
C. supplypside.
D. sellerpside.
4. Theplawpofpdemandpstatespthat,pholdingpallpelsepconstant:
A. asppricepfalls,pdemandpwillpfallpalso.
B. asppriceprises,pdemandpwillpalsoprise.
C. pricephaspnopeffectponpquantitypdemanded.
D. asppricepfalls,pquantitypdemandedprises.
5. WhichpofpthepfollowingpwouldpnotpshiftpthepdemandpforpgoodpA?
A. DroppinppricepofpgoodpA.
B. DroppinppricepofpgoodpB.
C. Consumerp income.
D. ChangepinptheplevelpofpadvertisingpofpgoodpA.
6. ChangespinptheppricepofpgoodpApleadptopapchangepin:
A. demandpofpgoodpA.
B. demandpofpgoodpB.
C. thepquantitypdemandedpofpgoodpA.
D. thepquantitypdemandedpofpgoodpB.
2-2
©p2014pbypMcGraw-
Hill pEducation. pThispis pproprietarypmaterialpsolelypforpauthorized pinstructorpuse.pNotpauthorizedpforpsale porpdistributionp inpany
pmanner. pThispdocument pmaypnotpbepcopied, pscanned, pduplicated, pforwarded, pdistributed, por ppostedponpapwebsite, pinpwhole por
ppart.
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,11/21/23,p9:31pPM ManagerialpEconomicspandpBusinesspStrategyp8thpEditionpbypBayepandpPri
…
7. Apchangepinpincomepwillpnotpleadpto:
A. apmovementpalongpthepdemandpcurve.
B. apleftwardpshiftpofpthepdemandpcurve.
C. aprightwardpshiftpofpthepdemandpcurve.
D. allpofpthepstatementspassociatedpwithpthepquestionparepcorrect.
8. IfpgoodpApispanpinferiorpgood,panpincreasepinpincomepleadspto:
A. apdecreasepinpthepdemandpforpgoodpB.
B. apdecreasepinpthepdemandpforpgoodpA.
C. anpincreasepinpthepdemandpforpgoodpA.
D. nopchangepinpthepquantitypdemandedpofpgoodpA.
9. Whichpofpthepfollowingpispprobablypnotpapnormalpgood?
A. designerpdresses.
B. lobster.
C. macaronipandpcheese.
D. expensivep automobiles.
10. Anpincreasepinptheppricepofpsteakpwillpprobablypleadpto:
A. anpincreasepinpdemandpforpchicken.
B. anpincreasepinpdemandpforpsteak.
C. nopchangepinpthepdemandpforpsteakporpchicken.
D. anpincreasepinpthepsupplypforpchicken.
2-3
©p2014pbypMcGraw-
Hill pEducation. pThispis pproprietarypmaterialpsolelypforpauthorized pinstructorpuse.pNotpauthorizedpforpsale porpdistributionp inpany
pmanner. pThispdocument pmaypnotpbepcopied, pscanned, pduplicated, pforwarded, pdistributed, por ppostedponpapwebsite, pinpwhole por
ppart.
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, 11/21/23,p9:31pPM ManagerialpEconomicspandpBusinesspStrategyp8thpEditionpbypBayepandpPri
…
11. Whichpofpthepfollowingppairspofpgoodsparepprobablypcomplements?
A. Televisionspandprollerpskates.
B. Frozenpyogurtpandpicepcream.
C. Steakpandpchicken.
D. Hamburgerspandpketchup.
12. IfpApandpBparepcomplements,panpincreasepinptheppricepofpgoodpApwould:
A. havepnopeffectponpthepquantitypdemandedpofpB.
B. leadptopanpincreasepinpdemandpforpB.
C. leadptopapdecreasepinpdemandpforpB.
D. nonepofpthepstatementspassociatedpwithpthispquestionparepcorrect.
13. Graphically,papdecreasepinpadvertisingpwillpcausepthepdemandpcurvepto:
A. becomepsteeper.
B. shiftprightward.
C. becomepflatter.
D. shiftpleftward.
14. Persuasivep advertisingp influencesp demandp by:
A. providingpinformationpaboutpthepavailabilitypofpapproduct.
B. offeringpreducedppricespforpthepproduct.
C. alteringpthepunderlyingptastespofpconsumers.
D. nonepofpthepstatementsparepcorrect.
2-4
©p2014pbypMcGraw-
Hill pEducation. pThispis pproprietarypmaterialpsolelypforpauthorized pinstructorpuse.pNotpauthorizedpforpsale porpdistributionp inpany
pmanner. pThispdocument pmaypnotpbepcopied, pscanned, pduplicated, pforwarded, pdistributed, por ppostedponpapwebsite, pinpwhole por
ppart.
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…
Chapterp02
pMarketpForces:pDemandpandpSupp
ly
MultiplepChoicepQuestions
1. Inpapcompetitivepmarket,pthepmarketpdemandpispQdp=p60p-
p6PpandpthepmarketpsupplypispQsp=p4P.pAp pricepceilingpofp$3pwillpresultpinpa
A. shortagepofp30punits.
B. shortagepofp15punits.
C. surpluspofp30punits.
D. surpluspofp12punits.
2. Inpapcompetitivepmarket,pthepmarketpdemandpispQdp=p60p-
p6PpandpthepmarketpsupplypispQsp=p4P.pThep fullpeconomicppricepunderpappricepceilingpofp$3
pis
A. 6.
B. 7.
C. 8.
D. 9.
2-1
©p2014pbypMcGraw-
Hill pEducation. pThispis pproprietarypmaterialpsolelypforpauthorized pinstructorpuse.pNotpauthorizedpforpsale porpdistributionp inpany
pmanner. pThispdocument pmaypnotpbepcopied, pscanned, pduplicated, pforwarded, pdistributed, por ppostedponpapwebsite, pinpwhole por
ppart.
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,11/21/23,p9:31pPM ManagerialpEconomicspandpBusinesspStrategyp8thpEditionpbypBayepandpPri
…
3. Thepbuyerpsidepofpthepmarketpispknownpaspthe:
A. incomepside.
B. demandpside.
C. supplypside.
D. sellerpside.
4. Theplawpofpdemandpstatespthat,pholdingpallpelsepconstant:
A. asppricepfalls,pdemandpwillpfallpalso.
B. asppriceprises,pdemandpwillpalsoprise.
C. pricephaspnopeffectponpquantitypdemanded.
D. asppricepfalls,pquantitypdemandedprises.
5. WhichpofpthepfollowingpwouldpnotpshiftpthepdemandpforpgoodpA?
A. DroppinppricepofpgoodpA.
B. DroppinppricepofpgoodpB.
C. Consumerp income.
D. ChangepinptheplevelpofpadvertisingpofpgoodpA.
6. ChangespinptheppricepofpgoodpApleadptopapchangepin:
A. demandpofpgoodpA.
B. demandpofpgoodpB.
C. thepquantitypdemandedpofpgoodpA.
D. thepquantitypdemandedpofpgoodpB.
2-2
©p2014pbypMcGraw-
Hill pEducation. pThispis pproprietarypmaterialpsolelypforpauthorized pinstructorpuse.pNotpauthorizedpforpsale porpdistributionp inpany
pmanner. pThispdocument pmaypnotpbepcopied, pscanned, pduplicated, pforwarded, pdistributed, por ppostedponpapwebsite, pinpwhole por
ppart.
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,11/21/23,p9:31pPM ManagerialpEconomicspandpBusinesspStrategyp8thpEditionpbypBayepandpPri
…
7. Apchangepinpincomepwillpnotpleadpto:
A. apmovementpalongpthepdemandpcurve.
B. apleftwardpshiftpofpthepdemandpcurve.
C. aprightwardpshiftpofpthepdemandpcurve.
D. allpofpthepstatementspassociatedpwithpthepquestionparepcorrect.
8. IfpgoodpApispanpinferiorpgood,panpincreasepinpincomepleadspto:
A. apdecreasepinpthepdemandpforpgoodpB.
B. apdecreasepinpthepdemandpforpgoodpA.
C. anpincreasepinpthepdemandpforpgoodpA.
D. nopchangepinpthepquantitypdemandedpofpgoodpA.
9. Whichpofpthepfollowingpispprobablypnotpapnormalpgood?
A. designerpdresses.
B. lobster.
C. macaronipandpcheese.
D. expensivep automobiles.
10. Anpincreasepinptheppricepofpsteakpwillpprobablypleadpto:
A. anpincreasepinpdemandpforpchicken.
B. anpincreasepinpdemandpforpsteak.
C. nopchangepinpthepdemandpforpsteakporpchicken.
D. anpincreasepinpthepsupplypforpchicken.
2-3
©p2014pbypMcGraw-
Hill pEducation. pThispis pproprietarypmaterialpsolelypforpauthorized pinstructorpuse.pNotpauthorizedpforpsale porpdistributionp inpany
pmanner. pThispdocument pmaypnotpbepcopied, pscanned, pduplicated, pforwarded, pdistributed, por ppostedponpapwebsite, pinpwhole por
ppart.
about:blank 3/151
, 11/21/23,p9:31pPM ManagerialpEconomicspandpBusinesspStrategyp8thpEditionpbypBayepandpPri
…
11. Whichpofpthepfollowingppairspofpgoodsparepprobablypcomplements?
A. Televisionspandprollerpskates.
B. Frozenpyogurtpandpicepcream.
C. Steakpandpchicken.
D. Hamburgerspandpketchup.
12. IfpApandpBparepcomplements,panpincreasepinptheppricepofpgoodpApwould:
A. havepnopeffectponpthepquantitypdemandedpofpB.
B. leadptopanpincreasepinpdemandpforpB.
C. leadptopapdecreasepinpdemandpforpB.
D. nonepofpthepstatementspassociatedpwithpthispquestionparepcorrect.
13. Graphically,papdecreasepinpadvertisingpwillpcausepthepdemandpcurvepto:
A. becomepsteeper.
B. shiftprightward.
C. becomepflatter.
D. shiftpleftward.
14. Persuasivep advertisingp influencesp demandp by:
A. providingpinformationpaboutpthepavailabilitypofpapproduct.
B. offeringpreducedppricespforpthepproduct.
C. alteringpthepunderlyingptastespofpconsumers.
D. nonepofpthepstatementsparepcorrect.
2-4
©p2014pbypMcGraw-
Hill pEducation. pThispis pproprietarypmaterialpsolelypforpauthorized pinstructorpuse.pNotpauthorizedpforpsale porpdistributionp inpany
pmanner. pThispdocument pmaypnotpbepcopied, pscanned, pduplicated, pforwarded, pdistributed, por ppostedponpapwebsite, pinpwhole por
ppart.
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