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If the price of a product falls then quantity demanded tends to increase ceteris paribus because:

A. The MU/P ratio has decreased

B. Of the income and substitution effects

C. Consumers tend to feel poorer when prices fall

D. When price falls the demand curve shifts right

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  1. In a competitive market, price is determined primarily by:
  2. Who wrote Economics of Imperfect Competition?
  3. The number of sellers in duopoly is:
  4. Who first formulated the Marginal Productivity Theory of Distribution?
  5. The effect of consumer boycotts usually is:
  6. Micro economics is concerned with:
  7. A demand schedule is shown as:
  8. In dominant price leadership model, the small firms are like:
  9. The cross-price elasticity of the demand for orange juice with respect to the price of apple juice is…
  10. A firm is a sum of persons who convert:
  11. The slope of the iso-cost line (budget line) is determined by:
  12. Market allocation fundamentally relies upon:
  13. The Input-Output Analysis was originated by:
  14. According to M.Kalecki, the true measure of the degree of monopoly power is the:
  15. All of the following curves are U-Shaped except:
  16. Each short run average cost curve:
  17. By scarcity the economist means that all goods are scarce relative the peoples:
  18. Under perfect competition, the average revenue, marginal revenue and price are shown:
  19. The games which played by players again and again are called:
  20. When the slope of a demand curve is infinite (also known as horizontal demand curve) then elasticity…
  21. In perfect cartel, the:
  22. In 1776, a famous book An enquiry into the nature and causes of the wealth of nation was written by:
  23. Dumping is international discriminating:
  24. The demand for cigarettes is price inelastic implying a unit tax on this commodity will
  25. The CES production function shows:
  26. Income -elasticity of demand will be zero when a given change in income brings about:
  27. Who introduced the concept of Elasticity of Demand into economic theory?
  28. The general form of Cobb-Douglas production function is:
  29. An indifferent curve shows:
  30. A fall in demand for the product under monopolistic competition will likely result in: