Microeconomics (Multiple Choice)
Quizzes
Quizzes
Set of flashcards Details
| Flashcards | 9 |
|---|---|
| Language | English |
| Category | Macro-Economics |
| Level | University |
| Created / Updated | 07.06.2021 / 27.06.2024 |
| Weblink |
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Which of the following demand curves does NOT obey the law of demand?
Chapter 2
Which of the following supply functions obeys the law of supply, where Q is quantity, P is price and I is income?
Chapter 2
Which of the following would cause an unambiguous increase in the equilibrium price in a market?
Chapter 2
Which of the following statements is NOT correct?
Chapter 2
What would be the formula for the elasticity of demand with respect to weather, where Q is quantity and W is weather?
Chapter 2
If demand is elastic, an increase in price
Chapter 2
The elasticity of demand for Carlsberg beer is likely to be _____ the elasticity of demand for all beer.
Chapter 2
When a linear demand curve can be expressed as Q = a-bP, which region corresponds to the elastic portion of the demand curve?
Chapter 2
The price of good A falls and the demand for good B decreases (shifts in). Goods A and B appear to be:
Chapter 2
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