The law of demand states that an increases in the price of a good ?

Related Mcqs:

If the price of a good is above the equilibrium price ?

A. there is a surplus and the price will rise B. there is a shortage and the price will fall C. there is a shortage and the price will rise D. The quantity demanded is equal to the quantity supplied and the price remains unchanged E. there is a surplus and the price will fall...

When supply increase in an agricultural market farmer’s earning might fall because ?

A. Supply is price elastic B. Demand is price inelastic C. The government buys up all the excess production D. All output must be sold at a maximum price...

The prisoners Dilemma Game demonstrates that ?

A. players are better of to act independently B. monopoly is better than competition C. people will always cheat D. players are better off if they co-operate...

A shift in demand will have more effect on price than quantity if ?

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...

Tax shifting ?

A. is the way in which a tax is structured B. is the ultimate distribution of a tax’s burden C. occurs when taxes cause prices to increase but wages to fall D. occurs when house hold can alter their behaviour and do something to avoid paying a tax....