Joint demand
Cross-elasticity of demand
Elasticity of supply
Competitive demand
Correct answer is A
Joint demand is when the demand for one product is directly and positively related to market demand for a related good or service. Example computer system and software. You need a software for a computer to function.
If there is change in the price of a computer system, it will affect the demand for software.
Cost economies
Economies of scale
Internal economies
External economies
Correct answer is B
No explanation has been provided for this answer.
By utility we mean____________
Beneficial
Power of satisfying a want
Advantageous
Consumable
Correct answer is B
No explanation has been provided for this answer.
From the graph above the consumer will attain equilibrium at point______________
J
K
M
L
Correct answer is B
No explanation has been provided for this answer.
The money paid per hour for work done is________
Cost
Salary
Bonus
Wage rate
Correct answer is A
No explanation has been provided for this answer.