# 1. Let be a linear supply function of the form Qs = a+bP, which intersects the...

###### Question:

1. Let be a linear supply function of the form Qs = a+bP, which intersects the Price axis at some positive value. Therefore:

(a ) a < 0

(b) a > 0

(c) a = 0

(d) b = 0

2. Wheat is used to produce bread. If, ceteris paribus, the price of wheat rises, then:

(a) The quantity supplied of bread will rise.

(b) The demand for bread will drop.

(c) The supply of bread will increase.

(d) The supply of bread will decrease.

3. The Demand for a good is a straight line that intersects the Price axis at A and the Quantity axis at B. In the middle M of the segment AB the following relationship holds as regards the price elasticity of demand:

(a) |Ed| > 1

(b) 0 < |Ed] < 1

(c) |Ed| = 1

(d) Ed = 0

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