Under ________ there are many firms selling identical products

Consider the market for bread. If the price of wheat rises, then the

A) demand curve for bread shifts leftward. B) supply curve of bread shifts leftward. C) price of bread falls. D) equilibrium quantity of bread increases. E) demand curve for bread shifts rightward.

All of the following are limitations of direct consumer surveys except:

A) the possibility that consumers' responses may not reflect their actual behavior in the market place. B) the possibility of response biases because survey respondents may not want to reveal their true preferences. C) the likelihood that respondents will deliberately and systematically mislead interviewers. D) the possibility that the type of questions asked may unintentionally bias the respondent's answers.