Contraction of demand means:

A. Less quantity demanded at the same price

B. Less quantity demanded at a higher price

C. Less quantity demanded at a lower price

D. None of the above

Related Questions

  1. An individual consumers demand is not determined by:
  2. Which form of market structure is characterized by interdependence in decision-making as between the…
  3. The demand curve in monopolistic competition (also in kinked demand curve model), which shows the share…
  4. If in the long run all factor inputs are increased three times and the resulting output is four times…
  5. In dominant price leadership model, the dominant firm set the:
  6. The name of the system of direct exchange is:
  7. Entry of new firms into a competitive market will shift the supply curve of the:
  8. Consumers are likely to get a variety of similar goods under:
  9. Who wrote An Introduction to Positive Economics?
  10. According to Robbins, economics is a:
  11. Contraction in demand occurs when:
  12. According to Marshal, the Law of Diminishing Marginal Utility:
  13. Theory of revealed preference is based on:
  14. If the price of a product falls which of the following would occur?
  15. The basic subject matter of economics is:
  16. Because the price elasticity of demand for OPEC oil is approximately .08, in order to increase revenues…
  17. Monopolistic firm can fix:
  18. We can measure consumers surplus with the help of
  19. The concept of product differentiation was firstly introduced by:
  20. In monopolistic competition, the cost curves of all firms are:
  21. The game theory takes into consideration:
  22. Nash Equilibrium is stable:
  23. The ordinal approach was presented by:
  24. Identify the author of The Social Framework:
  25. Price elasticity of demand can be measured in the following way:
  26. Which of the following is called Gossens first law?
  27. The vertical distance between TVC and TC is equal to:
  28. By scarcity the economist means that all goods are scarce relative the peoples:
  29. The giffen paradox is an exception to law of:
  30. In constant sum game (zero sum game), if there are two parties then:

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