Econ Prices Test P1
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31 Terms
1
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A
decrease in demand
2
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B
increase in QD
3
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C
increase in demand
4
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D
decrease in supply
5
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E
increase in QS
6
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F
increase in supply
7
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when demand inc, EqP and EqQ
EqP inc
EqQ inc
8
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when supply inc, EqP and EqQ
EqP dec
9
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when demand inc, EqP and EqQ
EqP dec
EqQ dec
10
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when supply dec, EqP and EqQ
EqP inc
EqQ dec
11
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A
increase supply
12
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B
decrease supply
13
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C
increase demand
14
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D
decrease demand
15
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A
price
16
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B
quantity
17
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C
supply
18
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D
demand
19
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E
surplus
20
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F
Price Ceiling
21
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G
equilibrium price
22
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H
equilibrium quantity
23
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I
price floor
24
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J
shortage
25
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K
equilibrium
26
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what is the amount of the surplus
55
27
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amount of the shortage
40
28
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amount of the price floor
$11.50
29
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amount of the price ceiling
$2.50
30
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initial EqP
$7
31
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Note 
Flashcards (38)