23 and 20
22 and 19
14 and 19
11 and 20
Correct answer is B
No explanation has been provided for this answer.
K
L
M
N
Correct answer is A
No explanation has been provided for this answer.
Elasticity of demand is an effective tool in the hand of a producer in that it enables him
Rise his profits and lower his costs
Discourage buyers from cheating
Determine what he will produce
Set his price to maximize his profit
Correct answer is A
No explanation has been provided for this answer.
Above the equilibrium point, a further rise in price tends to
Increase demand and restrict supply
Restrict demand and decrease supply
Increase demand and decrease supply
Decrease demand and increase supply
Correct answer is C
No explanation has been provided for this answer.
What is the equilibrium quantity?
50
250
350
450
Correct answer is B
No explanation has been provided for this answer.
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