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Contraction in demand occurs when:

A. Price increases and demand decreases

B. Price increases but demand also increases

C. Price remains constant but demand falls down

D. Price falls down but demand remains constant

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  1. The greater the percentage of income spent on a commodity:
  2. Contraction in demand occurs when:
  3. If the demand for good is more elastic and government levied a tax per unit of output, the price per…
  4. In Edgeworth model, prices oscillate between:
  5. Implicit costs are the costs:
  6. Market allocation fundamentally relies upon:
  7. In discriminating monopoly (price discrimination), the cost of production in two markets are:
  8. In case of giffin good, price effect is:
  9. In joint-profit maximization cartel, the distribution of profit is:
  10. If, at the prevailing price, more of a good is desired than is available for sale:
  11. Total costs in the short-term (short-run) are classified into fixed costs and variable costs. Which…
  12. Which is not an essential feature of a socialist economy?
  13. The isoquant which are generated by CES (constant elasticity of substitution) production function are…
  14. Price discrimination occurs when:
  15. A budget line shows:
  16. The Lambda or Langrange Multiplier is a:
  17. Using total revenue and total cost, a profit maximizing firm will be equilibrium at a point:
  18. Monopoly means:
  19. In cournot model, firms face:
  20. The game theory takes into consideration:
  21. In the immediate run:
  22. Of the following, which one is a characteristic of monopolistic competition?
  23. Which of the following is assumed to be constant when a supply curve is drawn:
  24. Which of the following is an implicit cost of production?
  25. Firms average and marginal revenues are equal under:
  26. The model which gives us information about price and output changes in different periods is:
  27. Under perfect competition, the average revenue, marginal revenue and price are shown:
  28. The addition or increment to the total cost involvesd in expanding or contracting output by one unit…
  29. Marginal utility means:
  30. In the long run average costs curve, a firm can change: