A. Quantity demanded and supplied will be equal B. Quantity supplied will be greater than quantity demanded C. Quantity demanded…
A. the movement of goods and services is restricted B. there is adequate knowledge of existing prices C. prices are…
A. sells inputs to purchase fixed assets B. varies all its inputs C. sources all its inputs from within D.…
A. total revenue B. marginal revenue C. average revenue D. price Correct Answer: Option D - price
A. an increase in short-run average cost B. an increase in long-run average cost C. a decrease in long-run average…
A. average variable cost B. marginal cost C. average total cost D. average fixed cost Correct Answer: Option B -…
A. scarce resources in order of importance B. needs in order of importance C. sources of income and their importances…
A. centrally planned economy B. free market economy C. developed economy D. mixed economy Correct Answer: Option A - centrally…
A. indeterminate B. direct C. nil D. inverse Correct Answer: Option C - nil
A. the quantity supplied is responsive to price B. the same fixed quantity will be supplied no matter the price…