Supply and Demand

A. The price elasticity of demand is negative: the income elasticity of demand is negative
B. The price elasticity of demand is positive the income elasticity of demand is negative
C. The price elasticity of demand is negative the income elasticity of demand is positive
D. The price elasticity of demand is positive the income elasticity of demand is positive

A. 550 units
B. 500 units
C. 450 units
D. 490 units

A. 3000
B. 7000
C. 5500
D. 4500

A. Reduces revenue
B. Leaves revenue unchanged
C. Increase revenue
D. Reduces costs

A. Demand is price inelastic
B. The good is inferior
C. Income elasticity is -2
D. The product is normal

A. Demand is inversely related to income
B. Demand is inversely related to price
C. Demand is directly related to price
D. Demand is inversely related to the price of substitutes

A. Shift demand for Product A outwards
B. Shift demand for product A inwards
C. Shift supply for product A outwards
D. Shift supply for product A inwards

A. Total utility is zero
B. An additional unit of consumption will decrease total utility
C. An additional unit of consumption will increase total utility
D. Total utility is maximized

A. Price decreases
B. The price of a substitute falls
C. The price of a complement rises
D. income falls

A. the quantity consumers would like to buy in an ideal world
B. The quantity consumers are willing to sell
C. The quantity consumers are willing and able to buy at each and every income all other things unchanged
D. The quantity consumers are willing and able to buy each and every price all other things changed