The law which states that supply creates its own demand and overproduction isimpossible is known as:

Question:

The law which states that supply creates its own demand and overproduction isimpossible is known as:

A.

the law of supply

B.

say’s law of market

C.

law of demand

D.

law of macro economics

Answer» b. say’s law of market

Note: The above multiple-choice question is for all general and Competitive Exams in India

In short run a firms in monopolistic competition

Question:

In short run a firms in monopolistic competition

A.

Always earns profit

B.

Incurs loss

C.

Earns normal profit only

D.

May earn normal profit, abnormal profit or incur losses

Answer» d. May earn normal profit, abnormal profit or incur losses

Note: The above multiple-choice question is for all general and Competitive Exams in India