A. perfect mobility of factors of production B. many buyers and few sellers C. a large number of buyers and…
A. original quantity to a change in new quantity B. quantity supplied to the change in price C. price to…
A. scale of operation B. total revenue C. total outputs D. variable inputs Correct Answer: Option A - scale of…
A. price and supply is positive B. demand and price is positive C. supply and price is negative D. price…
A. a monopolistic competitor as it can have a limited influence on the price B. a monopolist as it can…
A. rise in price B. shift in demand curve to the left C. fall in price D. shift in supply…
A. public ownership and control B. prices and competition C. individual choices and decisions D. private ownership and control Correct…
A. perfectly inelastic B. fairly inelastic C. perfectly elastic D. fairly elastic Correct Answer: Option B - fairly inelastic
A. demand B. production C. distribution D. consumption Correct Answer: Option D - consumption
A. relates to value judgment B. is incorrect C. can be tested scientifically D. is contradictory Correct Answer: Option A…