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EnvR 210 – pOST -practice questions

EnvR 210 – pOST -practice questions. Fall 2012 - Chapter 3 - Set #3. What will happen in the market for steak if consumer income increases?. The quantity demanded of steak will increase. The quantity demanded of steak will decrease. The demand for steak will increase.

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EnvR 210 – pOST -practice questions

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  1. EnvR 210 – pOST-practice questions Fall 2012 - Chapter 3 - Set #3

  2. What will happen in the market for steak if consumer income increases? • The quantity demanded of steak will increase. • The quantity demanded of steak will decrease. • The demand for steak will increase. • The demand for steak will decrease. 26 of 30

  3. 25 of 31 Suppose scientists provide evidence to the effect that chocolate pudding increases cholesterol. We would expect 1. no change in the demand for chocolate pudding. 2. a decrease in the demand for chocolate pudding. 3. an increase in the demand for chocolate pudding. 4. a decrease in the supply of chocolate pudding.

  4. The typical supply curve illustrates that: • other things equal, the quantity supplied for a good is inversely related to the price of a good. • other things equal, the supply of the good creates its own demand for the good. • other things equal, the quantity supplied for a good is positively related to the price of a good. • price and quantity supplied are unrelated. 26 of 31

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