A. less than one B. greater than one C. zero D. unity Correct Answer: Option C - zero
A. decrease the consumer's utility B. increase the price of the commodity C. increase the consumer's utility D. leave consumer's…
A. excess demand over supply at q3 B. excess supply over demand at q2 C. minimum price legislation at P2…
A. N220 B. N120 C. 110 D. N330 Correct Answer: Option A - N220
A. different buyers pay different prices for the same product B. different products are sold to the same buyer C.…
A. price is below the marginal cost B. price is equal to the marginal revenue C. marginal revenue is equal…
A. average variable cost is minimum B. marginal cost is falling C. average cost is minimum D. average fixed cost…
A. a pure monopoly B. an oligopoly C. a pure competition D. a monopolistic competition Correct Answer: Option B -…
A. land B. capital C. entrepreneur D. labour Correct Answer: Option C - entrepreneur
A. economies of scale B. falling marginal costs C. diminishing returns D. rising fixed costs Correct Answer: Option C -…