Tasha decides that when homes in her neighborhood are selling for ...

[EY67]

Tasha decides that when homes in her neighborhood are selling for 150,000 she will not sell her home. When average prices rise to 175,000, she decides that she will put her home on the market. This is an example of:
 a. market demand.
  b. market-day supply.
  c. an excess supply of homes.
  d. a positively-sloped supply curve.
  e. a negatively-sloped supply curve.

Question 2

With an upward-sloping supply curve, which of the following is true?
 a. An increase in price results in a decrease in quantity supplied.
  b. An increase in price results in an increase in supply.
  c. A decrease in price results in a decrease in quantity supplied.
  d. A decrease in price results in an increase in supply.

[paavo]

Answer to Question 1

d

Answer to Question 2

c

[EY67]

Correct answers!

[paavo]

Great! Please up vote