An increase in demand and a decrease in supply cause which of the following?

An increase in demand and a decrease in supply cause which of the following?
 a. Equilibrium price change is indeterminate.
  b. Equilibrium quantity decreases.
  c. Equilibrium price falls.
  d. Equilibrium price rises.
  e. Equilibrium quantity increases.

QUESTION 2

An increase in both supply and demand causes which of the following?
 a. Equilibrium price falls.
  b. Equilibrium price rises.
  c. Equilibrium price change is indeterminate.
  d. Equilibrium quantity decreases.
  e. Equilibrium quantity change is indeterminate.

QUESTION 3

Ceteris paribus, an increase in the supply of a good causes which of the following?
 a. Lowers the equilibrium price, and reduces the quantity bought and sold.
  b. Raises the equilibrium price, and raises the quantity bought and sold.
  c. Raises the equilibrium price, and increases the quantity bought and sold.
  d. Lowers the equilibrium price, and increases the quantity bought and sold.
  e. Equilibrium price and equilibrium quantity change are indeterminate.

QUESTION 4

Suppose the market for soda X is in equilibrium. If the FDA announced today that this soda has been proven to cause a fatal disease, what would be most likely to happen to the equilibrium price and equilibrium quantity of soda X?
 a. Price increases and quantity increases
  b. Price decreases and quantity increases
  c. Price increases and quantity increases
  d. Price decreases and quantity decreases
  e. No change in price and quantity

QUESTION 5

If consumers switch away from eating margarine at the same time that the number of margarine suppliers increases, then:
 a. these two effects cancel each other out and there is no change in the margarine market equilibrium.
  b. the demand curve shifts left and the supply curve shifts right.
  c. there is a margarine price increase.
  d. there is an excess demand for margarine.
  e. the equilibrium quantity of margarine must increase.

QUESTION 6

Ceteris paribus, if consumer tastes change so that more people are eating broccoli, then what will happen to the market equilibrium for cabbage, a substitute good for broccoli?
 a. Price will increase, and quantity will increase.
  b. Price and quantity will stay the same.
  c. Price will decrease, and quantity will increase.
  d. Price will increase, and quantity will decrease.
  e. Price will decrease, and quantity will decrease.