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AP Microeconomics Mkt 3 C a Define Using Graphs As Appropriate the Law of Supply B Explain Using Graphs As Appropriate the Relationship Between Price Questions

Practise applying the law of supply by reading an upward-sloping curve and distinguishing an own-price change in quantity supplied from a supply shift.

Syllabus
Effective Fall 2022
Course
AP Microeconomics

Exam points

  • apply the law of supply to trace an own-price change as a same-direction movement in quantity supplied

AP Microeconomics Mkt 3 C a Define Using Graphs As Appropriate the Law of Supply B Explain Using Graphs As Appropriate the Relationship Between Price Questions question 1

[Maximum number: 1]

For an upward-sloping now sell supply curve of dog treats, which of the following is truc?

A

Selling an additional unit of dog treats will decrease total revenue.

B

An increase in the price of dog treats will lead to an increase in the supply of dog treats.

C

An increase in the price of dog treats will lead to an increase in the quantity supplied of dog treats.

D

A decrease in the price of peanut butter, a: input to dog treats, will lead to a decreas in the quantity demanded for dog treats.

E

A decrease in the price of chew toys for dogs, a substitute in consumption for do: treats, will lead to an increase in the quantity supplied of dog treats.

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