Exam 3: Demand and Supply

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If an increase in the incomes of people who live in the Los Angeles area leads to an increase in the demand for season tickets for games played by the Los Angeles Lakers professional basketball team, then these season tickets are

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In economics, the meaning of demand refers to

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  -Refer to the above figure. Excess quantity supplied will exist when -Refer to the above figure. Excess quantity supplied will exist when

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In the long run, the number of firms in an industry may change. If the number of firms increases, then

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  -Refer to the above figure. Which panel demonstrates the law of demand? -Refer to the above figure. Which panel demonstrates the law of demand?

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  -Refer to the above table. The equilibrium price of tablets is -Refer to the above table. The equilibrium price of tablets is

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The data points on a supply curve come from

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Which of the following is a determinant of consumer demand?

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