1. Determinants shift supply, but only one variable shifts the Qs. That variable is a:

A) change in income.
B) change in price.
C) change in the number of suppliers.
D) change in technology
E) change in input costs.

2. If Qs goes up, what has happened to P and Q? If Qs goes down, what has happened to P and Q?

A) P (up), Q (down) ; P (down), Q (down)
B) P (up), Q (up) ; P (down), Q (down)
C) P (up), Q (up) ; P (down), Q (up)
D) P (up), Q (up) ; P (up), Q (up)
E) P (up), Q (down) ; P (up), Q (up)

3. One reason for the Qs to decrease in a perfectly competitive market is due to:

A) an increase in quantity demanded.
B) a decrease in quantity demanded.
C) an increase in supply.
D) an increase in demand
E) a decrease in demand.