A. Be under provided in the free market
B. Be over provided in the free market
C. Not be provided in the free market
D. Has no opportunity cost
A public good will ? Read More »
Economics Mcqs, Market A. Increase equilibrium price and quantity
B. Decrease equilibrium price and quantity
C. Increase equilibrium price and decrease quantity
D. Decrease equilibrium price and increase quantity
An increase in demand for a product should ? Read More »
Economics Mcqs, Market A. The price elasticity of supply is – 3
B. The price elasticity of supply is – 0.2
C. The price elasticity of supply is – 2
D. The price elasticity of supply is infinity
A shift in supply will have more effect on price than quantity if ? Read More »
Economics Mcqs, Market A. The price elasticity of supply is price inelastic
B. The price elasticity of supply is price elastic
C. The price elasticity of supply is perfectly elastic
D. The price elasticity of supply is infinity
A shift is demand will have more effect on price than quantity if ? Read More »
Economics Mcqs, Market A. The price consumers are willing to pray for a unit
B. The cost of providing a unit
C. The profits made by a firm
D. The difference the price a consumer pays for an item and the price he/she is willing to pay
Which best describes consumer surplus ? Read More »
Economics Mcqs, Market A. A change in technology
B. A change in the number of producers
C. A shift in demand
D. A change in costs
A movement along the supply curve may be caused by ? Read More »
Economics Mcqs, Market A. A change in income
B. A change in the number of buyers
C. A change in advertising
D. A shift in supply
A movement along the demand curve may be caused by ? Read More »
Economics Mcqs, Market A. An fall in demand
B. An increase in supply
C. improvements in production technology
D. An increase in demand
A. Lead to a movement along the supply curve
B. Shift the demand curve
C. Shift the supply curve
D. Lead to an extension of supply
A reduction in the costs of production will ? Read More »
Economics Mcqs, Market A. A higher equilibrium price and output
B. A lower equilibrium price and higher output
C. A lower equilibrium price and output
D. A higher equilibrium price and lower output
If demand increase in a market this will usually lead to ? Read More »
Economics Mcqs, Market