3. The Market Forces of Supply and Demand

Which of these statements best represents the law of demand?

The demand curve for a typical good has a(n):

In the market for bags of potato chips, which of the following would cause the demand curve to shift to the right?

Which two variables are typically plotted to represent a demand curve in microeconomics?

Which of the following statements is true about the impact of an increase in the price of lettuce?

A demand schedule is a table that shows the relationship between:

Which of the following will NOT cause the demand for product k to change?

Which of the following best describes the difference between a change in quantity demanded and a change in demand?

Refer to Figure 5-1. Between point A and point B on the graph, demand is:

Which of the following best describes the shape of the demand curve faced by a pure monopolist?

Which of the following examples demonstrates the law of demand?

An increase in the number of consumers in the market for chocolate would most likely:

Suppose the demand curve for tofu passes through points a and b as shown on the graph. If the price of tofu decreases from the price at point a to the price at point b, what happens to the quantity demanded?

Which of the following factors is most likely to increase the demand for a good or service?

Given a table that displays various prices and the corresponding quantities demanded, which of the following best describes the relationship illustrated by the demand curve?