1-There is a direct relationship between Quantity Supplied and the Price.
Group of answer choices
True
False
Question 2
The point on the graph where the Demand Curve intersects (crosses) the Supply curve is called the Equilibrium Price and Quantity.
Group of answer choices
True
False
Question 3
Which of the following would not happen first if there were a sudden increase in the demand for Shoes?
Group of answer choices
The Quantity Demanded at Market price would be higher than Quantity supplied
The Supply of Shoes would increase
A shortage would eventually be created by the increase in demand
the price of shoes would eventually be driven up by the shortage.
Q4-
The Producer Surplus is the advantage firms have for being part of a marketplace and is measured by the distance between the Supply Curve and the Equilibrium Price.
True
False