A. total fixed cost B. marginal cost C. average fixed cost D. average cost Correct Answer: Option D - average…
A. excessive demand for the product B. low level of technology C. excess supply of labour D. increase in the…
A. market surplus occurs B. the market will be cleared in the short-run C. excess demand occurs D. government regulation…
A. common agricultural policy is in place B. the size of the market is widened C. factors of production are…
A. joint supply B. composite supply C. competitive supply D. market supply Correct Answer: Option A - joint supply Explanation…
A. current account transaction B. capital account transaction C. balance of trade account transaction D. invisible balance account transaction Correct…
A. his marginal utility is equal to zero B. he can equate his demand with price C. he equates marginal…
A. Construction industry B. Processing industry C. Mining industry D. Service industry Correct Answer: Option C - Mining industry Explanation…
A. money transferred to another country B. transfer of funds from one bank to another C. unemployment allowance paid to…
A. 2.00 B. 0.50 C. 0.65 D. 2.50 Correct Answer: Option A Explanation e = ∆Qd/∆P x P/Qd =…