A. income elastic
B. income inelastic
C. Price elastic
D. Price inelastic
A shift in supply will have a bigger effect on price than output if demand is ? Read More »
Economics Mcqs, Market A. Lead to a movement along the demand curve
B. Shift the supply curve
C. Shift the demand curve
D. Lead to an extension of demand
An increase in income will ? Read More »
Economics Mcqs, Market A. decrease in supply
B. increase in demand
C. increase in supply
D. decrease in demand
An inferior good is one for which an increase in income causes a(n) ? Read More »
Economics Mcqs, Market A. There is an increase in the quantity demanded of apples and in the supply for apples
B. There is an increase in the demand and supply of apples.
C. There is an increase in the demand for apples and a decrease in the supply of apples
D. There is a decrease in the quantity demanded of apples and an increase in the supply for apples
E. There is an increase in the demand for apples and an increase in the quantity supplied of apples.
A. Both the demand for lettuce will decrease and the equilibrium price and quantity of salad dressing will fall
B. The supply of lettuce will decrease
C. The demand for lettuce will decrease
D. The equilibrium price and quantity of salad dressing will fall
E. The equilibrium price and quantity of salad dressing will rise
A. the equilibrium quantity to rise and the equilibrium price to rise
B. the equilibrium quantity to rise and the equilibrium price to fall
C. the equilibrium quantity to rise and the equilibrium price to remain constant
D. the change in the equilibrium quantity to be ambiguous and the equilibrium price to rise
E. the equilibrium quantity to rise and the change in the equilibrium price to be ambiguous.
A. an increase in the equilibrium price and quantity
B. none of these answers
C. an increase in the equilibrium price and a decrease in the equilibrium quantity
D. a decrease in the equilibrium quantity.
E. a decrease in the equilibrium price and quantity.
An increase (rightward shift) in the demand for a good will tend to cause ? Read More »
Economics Mcqs, Market A. there is a shortage and the price will rise
B. the quantity demanded is equal to the quantity supplied and the price remains unchanged
C. there is a shortage and the price will fall
D. there is a surplus and the price will rise
If the price of good is below the equilibrium price ? Read More »
Economics Mcqs, Market A. an advance in the technology used to manufacture watches
B. an increase in the price of watches
C. All of these answers cause an increase in the supply of watches
D. a decrease in the wage of workers employed to manufacture watches
All of the following shift the supply of watches to the right except ? Read More »
Economics Mcqs, Market A. many buyers and sellers
B. none of these answers
C. firms that are price takers
D. only one seller
A monopolistic market has ? Read More »
Economics Mcqs, Market