The law of supply states that an increase in the price of a good ?

Related Mcqs:

A perfectly competitive market has ?

A. firms that set their own prices B. only one seller. C. at least a few sellers. D. many buyers and sellers....

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

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...

Comparing a monopoly and competitive firm, the monopolist will ?

A. produce less at a lower price B. produce more at a lower price C. produce less at a higher price D. produce less at a lower price...

Except for taxes to offset ______ taxes are ______?

A. imperfect competition popular B. externalities , distortionary C. inequality , a first best option D. poor health, unnecessary...

If a government were to fix a minimum wage for adult workers, economists would predict ?

A. wages in general would fall as employers tried to hold down costs B. fewer young workers would be employed C. the costs and prices of firms employing cheap labour would increase D. there would be more unemployment...