TRUE OR FALSE 1. IF A CUSTOMER EXPECTS A GOODS PRICE TO BE HIGHER IN THE FUTURE THERE WILL BE A HIGHER DEMAND FOR THE GOOD NOW 2.A SURPLUD OCCURS IF FLOOR PRICE IS BELOW EQUILIBRIUM PRICE. 3. TWO GOODS ARE SUBSTITUTES IF AN INCREASE IN THE PRICE OF THE FIRST GOOD CAUSES AN INCREASE IN SUPPLY OF THE SECOND GOOD 4.A DECREASE IN INCOMEWOULD CAUSE A BUYER TO CONSUMER MORE INFERIOR GOODS
TRUE OR FALSE
1. IF A CUSTOMER EXPECTS A GOODS PRICE TO BE HIGHER IN THE FUTURE THERE WILL BE A HIGHER DEMAND FOR THE GOOD NOW
2.A SURPLUD OCCURS IF FLOOR PRICE IS BELOW
3. TWO GOODS ARE SUBSTITUTES IF AN INCREASE IN THE PRICE OF THE FIRST GOOD CAUSES AN INCREASE IN SUPPLY OF THE SECOND GOOD
4.A DECREASE IN INCOMEWOULD CAUSE A BUYER TO CONSUMER MORE INFERIOR GOODS
5. AN INCREASE IN THE LEVEL OF AVAILABLE TECHNOLOGY CAUSES A PRODUCTS SUPPLY TO DECREASE
6.A CHANGE IN THE CONSUMERS INCOME WOULD CAUSE A MOVEMENT IN THE DEMAND CURVE
7. IN REAL LIFE SITUATIONS SHIFTS IN DEMAND CURVE ARE PARALLEL TO EACH OTHER
8. THE
9. AN ANTICIPATED DECREASES IN THE PRICE OF A GOOD WILL CAUSE SUPPLIERS TO DECREASE CURRENT SUPPLY OF THE GOOD
10. THE
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