What happens to equilibrium price if more suppliers enter the market?

What happens to equilibrium price if more suppliers enter the market?

A. it increases
B. it decreases
C.it does not change


Answer: B. it decreases

For an upward-sloping labor supply curve, there is an increase in the quantity supplied when the ______ increases.

For an upward-sloping labor supply curve, there is an increase in the quantity supplied when the ______ increases.

Answer: wage rate increases

Which of the following will decrease the market demand for labor?

Which of the following will decrease the market demand for labor?

A. An decrease in immigration
B.A decrease in the price of the product produced by labor
C.An increase in labor productivity
D. A decrease in wage rate


Answer: C.An increase in labor productivity

Which of the following will increase the market demand for labor?

Which of the following will increase the market demand for labor?

A.the market demand curve shifts to the right
B. a decrease in the number of available workers
C.An increase in the wage paid to labor


Answer: C.An increase in the wage paid to labor

When firms exit a market, all of the following occurs except

When firms exit a market, all of the following occurs except

A. The market demand curve shifts to the right
B.The market supply shifts to the left
C.The equilibrium price level rises


Answer: B.The market supply shifts to the left

Which of the following represents a change in the quantity demanded?

Which of the following represents a change in the quantity demanded?

A.People buy more computers as prices fall
B.People buy more computers due to a change in income
C.People buy more computers due to a change in tastes


Answer: C.People buy more computers due to a change in tastes