Average income increase from Rs20,000 p.a to Rs 22,000 p.a Quantity demanded per year increases 5000 to 6000 units. Which of the following is correct ?

Related Mcqs:

The law of demand implies that ?

A. as prices rise, demand decrease B. as prices fall, quantity demanded increase C. as prices fall demand increases D. as prices rise, quantity demanded increases...

An increase in price from 25 pence to 30 pence leads to an increase in the quantity supplied from 40 units to 44 units. The price elasticity of supply is ?

A. +2 B. +0.5 C. -2 D. -0.5...

The increase in total cost when one more unit is produced is known as ?

A. marginal cost B. opportunity cost C. limited cost D. average cost...

A fall in price ?

A. Will cause an inward shift of demand B. Will cause an outward shift of supply C. May be caused by a fall in demand D. Leads to a higher level of production...

Increased level consumption ?

A. shift aggregate supply to the right B. shift aggregate supply to the left C. shift aggregate demand to the right D. shift aggregate demand to the left...