4/5/23, 10:21 PM Assessment 1: Attempt review
Started on Tuesday, 28 March 2023, 10:57 AM
State Finished
Completed on Wednesday, 5 April 2023, 8:33 PM
Time taken 8 days 9 hours
Marks 16.00/20.00
Grade 80.00 out of 100.00
Question 1
Complete
Mark 1.00 out of 1.00
An increase in supply tends to increase the equilibrium price and quantity.
Select one:
True
False
Question 2
Complete
Mark 1.00 out of 1.00
Plastic and steel are substitutes in the production of body panels for certain automobiles. If the price of plastic increases, with other things
remaining the same, we would expect:
a. the demand curve for plastic to shift to the left.
b. nothing to happen to steel because it is only a substitute for plastic.
c. the price of steel to fall.
d. the demand curve for steel to shift to the right.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=8505891&cmid=622487 1/6
, 4/5/23, 10:21 PM Assessment 1: Attempt review
Question 3
Complete
Mark 3.00 out of 3.00
Consider the following demand and supply functions: Demand: Qd = 600 - 30P and Supply: Qs = -300 + 120P. What is the equilibrium price and
output?
a. P = R2 and Q = 540.
b. P = R10 and Q = 300.
c. P = R3.33 and Q = 500.
d.
P = R6 and Q = 420.
Question 4
Complete
Mark 0.00 out of 1.00
If pizza and hamburgers were substitutes, a decrease drop in the price of pizza would increase the demand for hamburgers.
Select one:
True
False
Question 5
Complete
Mark 3.00 out of 3.00
Which of the following would shift the demand curve for new textbooks to the right?
a. A fall in the price of new textbooks
b. A fall in the price of paper used in publishing texts
c. An increase in the income of students attending college
d. A fall in the price of equivalently used textbooks
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=8505891&cmid=622487 2/6
Started on Tuesday, 28 March 2023, 10:57 AM
State Finished
Completed on Wednesday, 5 April 2023, 8:33 PM
Time taken 8 days 9 hours
Marks 16.00/20.00
Grade 80.00 out of 100.00
Question 1
Complete
Mark 1.00 out of 1.00
An increase in supply tends to increase the equilibrium price and quantity.
Select one:
True
False
Question 2
Complete
Mark 1.00 out of 1.00
Plastic and steel are substitutes in the production of body panels for certain automobiles. If the price of plastic increases, with other things
remaining the same, we would expect:
a. the demand curve for plastic to shift to the left.
b. nothing to happen to steel because it is only a substitute for plastic.
c. the price of steel to fall.
d. the demand curve for steel to shift to the right.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=8505891&cmid=622487 1/6
, 4/5/23, 10:21 PM Assessment 1: Attempt review
Question 3
Complete
Mark 3.00 out of 3.00
Consider the following demand and supply functions: Demand: Qd = 600 - 30P and Supply: Qs = -300 + 120P. What is the equilibrium price and
output?
a. P = R2 and Q = 540.
b. P = R10 and Q = 300.
c. P = R3.33 and Q = 500.
d.
P = R6 and Q = 420.
Question 4
Complete
Mark 0.00 out of 1.00
If pizza and hamburgers were substitutes, a decrease drop in the price of pizza would increase the demand for hamburgers.
Select one:
True
False
Question 5
Complete
Mark 3.00 out of 3.00
Which of the following would shift the demand curve for new textbooks to the right?
a. A fall in the price of new textbooks
b. A fall in the price of paper used in publishing texts
c. An increase in the income of students attending college
d. A fall in the price of equivalently used textbooks
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=8505891&cmid=622487 2/6
