ECON 100A Midterm: ECON100A Midterm 1
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Multiple choice questions: please answer all of the following questions (each 1. 6 points: a supply curve reveals: The quantity of output that producers are willing to produce and sell at each possible market price: coffee and cream: Are complements: assume that steak and potatoes are complements. When the price of steak goes up, the demand curve for potatoes: Answer: b: which of the following would cause a rightward shift in the demand curve for gasoline, a large increase in the price of public transportation. A large decrease in the price of automobiles. A large reduction in the costs of producing gasoline: i only, ii only, i and ii only, ii and iii only, i, ii, and iii. Answer: c: to protect the cod fishery off the northeast coast of the u. s. , the federal government may limit the amount of fish that each boat can catch in the fishery. The result of this public policy is to:
