If goods P and Q are purchased by a consumer; a fall in the price P with the price Q unchanged will cause the budget line to?
A. shift parallel inwards B. rotate outwards away from the origin C. rotate inwards towards the origin. D. shift parallel outwards Correct Answer: Option C – rotate inwards towards the origin.
In the diagram below; what is the excess demand at the price of N60?
A. 200 B. 300 C. 600 D. 100 Correct Answer: Option B – 300
In the pie chart below; the percentage for children is equivalent to?
A. 288° B. 720° C. 90° D. 144° Correct Answer: Option D – 144°
In the diagram below; the marginal rate of substitution of X for Y. For a movement from S to T is?
A. 13:3 B. 1:5 C. 18:4 D. 5:1 Correct Answer: Option D = 5:1Products
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