For an inferior good ?

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...

Profits are maximized when ?

A. costs are minimized B. revenue is maximized C. average cost is less than average revenue D. marginal cost equals marginal revenue...

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...