A. sellers B. industries C. distributors D. consumers Correct Answer: Option D D. consumers
A. production B. income C. wage D. profits Correct Answer: Option C C. wage
A. positive income elasticity B. negative income elasticity C. positive cross elasticity D. negative cross elasticity Correct Answer: Option A…
A. An increase in demand for X will increase supply of Y B. An increase in demand for X will…
A. perfectly inelastic B. inelastic C. perfectly elastic D. elastic Correct Answer: Option B B. inelastic
A. composite supply B. joint supply C. competitive supply D. short-run supply Correct Answer: Option C C. competitive supply
A. exceptional demand B. derived demand C. competitive demand D. joint demand Correct Answer: Option A A. exceptional demand
A. competitive demand B. complementary demand C. composite demand D. joint demand Correct Answer: Option B B. complementary demand
The demand and supply function of a commodity is given as below. Qd = 20 - 2p Qs = 6p…
A. protect the interest of the owners B. promote exports C. provide infrastructure D. maximize profits Correct Answer: Option D…