The law of supply states that, holding all else constant, as the price of a good falls:
Subject: Managerial Economics Multiple Choice Quiz ( MCQ ) and Answer
The curve which summarizes the total quantity producers are willing and able to produce at differing prices is the:
Other things held constant, the greater the price of a good
Suppose the demand for good X is given by…..
Suppose the demand for good X is given by Qd x = 10 + axPx + ayPy + aMM. If aM is negative, then good y is:
Suppose the demand for good X is given by Qd x = 10 + axPx + ayPy + aMM. If ay is positive, then:
Suppose the demand for good X is given by Qd x = 10 + axPx + ayPy + aMM. From the law of demand we know that ax will be:
The demand function recognizes that the quantity of a good consumed depends on:
Which of the following can explain an increase in the demand for housing in retirement communities?
Persuasive advertising influences demand by:
Graphically, a decrease in advertising will cause the demand curve to:
If A and B are complements, an increase in the price of good A would:
If A and B are complements, an increase in the price of good A would:
Which of the following pairs of goods are probably complements?
An increase in the price of steak will probably lead to:
Which of the following is probably not a normal good?
Good A is an inferior good, an increase in income leads to:
A change in income will not lead to:
Changes in the price of good A leads to a change in:
Which of the following would not shift the demand for good A?
The law of demand states that, holding all else constant:
The buyer side of the market is known as the: