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ECS1501-25-Y

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This question is based on the following diagram.

At a price of R15, there would be a
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Bernard bakes apple pies that he sells at the local farmer’s market. If the price of apples increases, the
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An advance in production technology will
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If the price of running shoes is above the equilibrium price, there will be an excess supply of running shoes.

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Excess demand for a good will put downward pressure on the price of the good.

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A market can only be in equilibrium if there is no tendency for things to change.

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If the price of television sets is lower than the equilibrium price, there will be an excess demand for television sets.

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This question is based on the following diagram.

Which of the following would cause the supply curve to shift from Supply B to Supply A in the market for tea?
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The positive relationship between price and quantity supplied is called
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An increase in the price of potatoes will lead to an increase in the quantity of potatoes supplied.

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