5

12

66
10
13

2
14
20
7
4
19
16
17
3
21
11
15
1

9
8
18
2

2
 Qd Qs

300$

Qs=Qd=50

a shortage is 40 bicycles, which will cause the price rise

a surplus is 20 bicycles which will cause the price fall

 Qd=-1/10*P+80, Qs= 1/10*P

Ep= 400 $, Eq= 40

demand shifts right, the equilibrium price and quantity rise

demand shifts left, the equilibrium price and quantity decrease

supply shifts left, the equilibrium price increases, the equilibrium quantity decreases

Tdemand shifts right, the equilibrium price and quantity rise

h
e
demand shifts left, the equilibrium price and quantity decrease
d
e
m
supply shifts right, the equilibrium price decreases, the equilibrium quantity increases
a
n
d
demand shifts right, the equilibrium price and quantity rise
o
f

b
i
c
y
c
demand shifts right, the equilibrium price and quantity rise

the equilibrium price doesn't change, the equilibrium quantity increases

increase
 The supply decreases while the demand increases
The equilibrium price and quantity increase

the price above the equilibrium price for that good

An increase in consumers' income cause an increase in demand of automobiles

which means that demand curve shift right. Therefore, the price of automobiles
increases leading to an increase in the quantity of supply but no change in supply.

An advance in the technology causes an increase supply which means that

supply curve shifts right. Therefore, the price of mobiles will fall leading to an

increase in the quantity of demand but there is no change in the demand of automobile

T
F

F
T

F
F

F
The demand for apples increases because they belive in the future the price of apples will more expensive

The supply for apples decreases becuz they hope the price will rise in the future
TThe equilibrium price and quantity increases
h
e

e
q
u
i
l
i
b
r
F

F
F
T
T

T
F

F
T
T

F
3
7
1
8
6
2
5
4
 1 apartment - No surplus

4 apartments, CS= $6000

When the price of having her apartments repainted fell, the

consumer surplus increase because the price is lower, she can gain

money from the new price

2 apartment houses, PS= $1000

4 apartment houses, PS= (4000 - 3000) + (4000-2000) +

(4000-1000) = $6000

When the price to paint apartment rose, the producer surplus increased

because the price is higher which means that the producer can gain

more money than the old price

Ony 1 apartment house is repainted, CS = $0, PS = 5000 - 1000=$4000

Total surplus = $ 4000

Only 1 apartment house is repainted by the producer, CS = 5000-1000=$4000

PS = 0
Total surplus = $4000

CS = $3000, PS=$3000, Total surplus=$6000

 Qd
Qs

CS=$6000, PS=$6000, Total surplus=$12000

Qd

Qs
T

T
T
T
F
F
T
T

T
T
T

F
13
8
2
20
6
18
19
14
7
17

1
11
16
10
15
3
12
4
9
5
TV= 35,000 * 10 = $350,000

EC = $250,000 + $300,000 * 10%= $ 280,000

IC = $ 60,000 + $ 200,000 * 10% = $80,000

Total cost opportunity = 80,000 + 280,000 = $360,000

AP = 350,000 - 280,000 = 70,000

EC = 350,000 - 360,000 = -10,000

NO
 25
6
30
5
35
4
40
3
45
2
50

Marginal product of labor decreases

16
18
34 16 18 34
13
47 8 15,5 23,5
10
57 16/3 41/3 19
8
65 4 12,25 16,25
10

13

18

24

31

39
T

F
explicit
T

F Decreasing
T

Input expand
T
F / Quantity of output
T

F
Average total cost
T

F
average total cost
F
10
5
15
6
21
7
28
8
36
10
46
6

2
3
5

1
7
4
 0 0
3 1 2
3 1 2 0
3 2 2
6 2 4 0
3 3 2
9 2 6 -1
3 4 2
12 1 8 -3
3 5 2
15 1 10 -6
 F

T
T

F
reduce
F
AVC

F
ATC
F

Keep doing business

T

T
T

F
Zero economic profit
T

T
F price maker
F

the rarest source

T
F

F no supply surve
F

T
T

F
the producer
T