as price decreases, the consumer chooses to buy more of the good.

as price increases, sellers are willing and able to sell more of the good.

as price decreases, consumers decide to exit the market and buy higher quality goods instead.

as price increases, the seller shifts to producing higher quality goods.

in monopoly there are many buyers but

one seller, but in perfect competition there are many sellers and many buyers.

in monopoly there is freedom of entry

into the market, but in perfect competition there are barriers to entry into

the market.

in monopoly the goods are

homogeneous, but in perfect competition the goods are differentiated.

None of these is correct.

a decrease in quantity demanded.

a decrease in demand.

an increase in quantity demanded.

an increase in demand.

the price of Good X to a change in the quantity of Good X available for sale.

the quantity of Good X supplied to a change in the price of Good X.

the quantity of Good X supplied to a change in the quantity of Good X demanded.

the quantity of Good X supplied to a change in the price of Good Y.

an increase in the quantity demanded of beef.

a decrease in the quantity demanded of beef.

a decrease in the demand for beef.

an increase in the demand for beef.

All of these are correct.

neither buyers nor sellers have market power.

the price is determined by the interaction of demand and supply.

neither buyers nor sellers have any control over price.

Brian pays his golf membership in monthly installments.

Paula buys a pack of eight candles, because it is cheaper than buying each candle individually.

Trevor goes to the movies with his partner, and receives a discount because he is a student.

Jenny pays her landlord separately for rent and for electricity.

the firm is reliant on network externalities to remain profitable.

All of these are correct.

the firm is intending to charge a higher price to their 'locked in' customers at some time in the future.

the price is separated into two components, one of which is paid up-front and the other is paid later.

make the consumer's indifference curves steeper.

force the consumer to move to a lower indifference

curve.

not affect the quantity of sunglasses that consumers choose to buy, as the price of sunglasses and the consumer's income have not changed.

decrease the consumer's marginal rate of substitution for sunglasses.