Class XII

The equilibrium price will not change for a good if the demand is perfectly inelastic. It is
  1. True
  2. May be
  3. Can’t say
  4. 0
Market for a good is in equilibrium. An increase in supply for the good will
  1. Move the supply curve
  2. Move the demand curve
  3. Shift the supply curve
  4. Shift the demand curve
The equilibrium price will not change for a good if the supply is perfectly elastic. It is
  1. May be
  2. Can’t say
  3. False
  4. 1
The factor that causes a change in demand is
  1. The factor that causes a change in demand is
  2. An improvement in technology
  3. Price of the given good
  4. Price of the substitute good
The factor that causes a change in supply is
  1. Price of the substitute good
  2. Price of the given good
  3. Price of the inputs
  4. Price of the complementary good
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