Changes in the price of other goods lead to
Subject: Managerial Economics Multiple Choice Quiz ( MCQ ) and Answer
Demand shifters do not include
The law of demand states that if the price of a good falls and all other things remain the same, the
Suppose both supply and demand decrease. What effect will this have on price?
Suppose that supply increases and demand decreases. What effect will this have on price and quantity?
Suppose you produce wooden desks, and government….
If steak is a normal good, what do you suppose would happen to price and quantity during an economic recession?
Suppose market demand and supply are…..
Suppose market demand and supply are given by Qd = 100 – 2P and QS = 5 + 3P. If a price floor of $30 is set, what will be size of the resulting surplus?
The minimum legal price that can be charged in a market is:
Suppose market demand and supply are given by Qd = 100 – 2P and QS = 5 + 3P. If a price ceiling of $15 is imposed, what will be the resulting full economic price?
Suppose market demand and supply are given by Qd = 100 – 2P and QS = 5 + 3P. If a price ceiling of $15 is imposed,
The maximum legal price that can be charged in a market is:
Suppose market demand and supply are given by Qd = 100 – 2P and QS = 5 + 3P. The equilibrium quantity is:
Suppose market demand and supply are given by Qd = 100 – 2P and QS = 5 + 3P. The equilibrium price is:
If a shortage exists in a market, the natural tendency is for:
Suppose the supply of good X is given by QS x = 10 + 2Px. How many units of good X are produced if the price of good X is 20?
An ad valorem tax causes supply curve to:
Technological advances will cause the supply curve to:
Changes in the price of a good lead to:
For a steel factory, a decrease in the cost of electricity to the plant will cause the supply curve to:
The economic principle that producers are willing to produce more output when price is high is depicted by the: