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.Management Sciences
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
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...
- It is necessary to ration a good whenever ?
- A. supply exceeds demand B. a surplus exists C. there is perfectly inelastic demand for the good D. demand exceeds supply...
- A dominant strategy is ?
- A. a wining strategy B. a losing strategy C. a players best strategy when moving first D. a player’s best strategy whatever the strategies adopted by rivals...
- Which of the following statements is true about the impact of an increase in the price of lettuce ?
- A. Both the demand for lettuce will decrease and the equilibrium price and quantity of salad dressing will fall B. The supply of lettuce will decrease C. The demand for lettuce will decrease D. The equilibrium price and quantity of salad dressing will fall E. The equilibrium price and quantity of salad dressing will rise...
- Satellite television subscription and television detection devices are ways in which broadcasting companies address the ________ problem?
- A. externality B. market imperfection C. deadweight burden D. free rider...
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