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Which of the following is consistent with the law of supply ?

Economics Mcqs, Supply and Demand /
Which of the following is consistent with the law of supply ?

A. As the price of calculators rise, the quantity supplied of calculators decreases, ceteris paribus.
B. As the price of calculators calls the supply of calculators increases, ceteris paribus.
C. As the price of calculators rise, the quantity supplied of calculators increases, ceteris paribus.
D. As the price of calculators rise, the supply of calculators increases ceteris paribus.

Which of the following is consistent with the law of supply ? Read More »

Economics Mcqs, Supply and Demand

The quantity demanded of Pepsi has decreased. The best explanation for this is that ?

Economics Mcqs, Supply and Demand /
The quantity demanded of Pepsi has decreased. The best explanation for this is that ?

A. Pepsi’s advertising is not as effective as in the past .
B. The price of Coca Cola has increased,
C. Pepsi consumers had an increase in income.
D. The price of Pepsi increased

The quantity demanded of Pepsi has decreased. The best explanation for this is that ? Read More »

Economics Mcqs, Supply and Demand

The Setrite Corporation produce chairs. An economist working for the firm predicts that if people’s incomes rise next year, then the demand for our chairs will for our chairs will increase ceteris paribus The accuracy of the economist’s prediction depends on whether the chairs Setrite Produce ?

Economics Mcqs, Supply and Demand /
The Setrite Corporation produce chairs. An economist working for the firm predicts that if people’s incomes rise next year, then the demand for our chairs will for our chairs will increase ceteris paribus The accuracy of the economist’s prediction depends on whether the chairs Setrite Produce ?

A. have few substitutes.
B. are normal goods
C. have few complementary goods.
D. have many complementary goods.

The Setrite Corporation produce chairs. An economist working for the firm predicts that if people’s incomes rise next year, then the demand for our chairs will for our chairs will increase ceteris paribus The accuracy of the economist’s prediction depends on whether the chairs Setrite Produce ? Read More »

Economics Mcqs, Supply and Demand

If a firm wage costs increase this will cause __________ and __________?

Economics Mcqs, Supply and Demand /
If a firm wage costs increase this will cause __________ and __________?

A. marginal cost to increase, output to fall
B. marginal revenue to increase output to fall
C. opportunity cost to increase the firm will close
D. average cost will rise output will increase ____ output and an upward shift in marginal revenue ____ output

If a firm wage costs increase this will cause __________ and __________? Read More »

Economics Mcqs, Supply and Demand