if a given change in price brings a proportionately larger change in quantity demanded, the
Demand is relatively price elastic
Demand is relatively price inelastic
Price elasticity of demand is unitary
Price elasticity of demand is constant
Correct answer is A
Price elasticity is a measure of the responsiveness of demand or supply of a good or service to changes in price. The price elasticity of demand measures the ratio of the proportionate change in quantity demanded to the proportionate change of the price.
The market supply curve slopes upward from left to right indicating that?
Producers pay high taxes
Two commodities can be supplied at the same time
At a lower price, less is supplied
At a lower price, more is supplied and demanded
Correct answer is C
In most cases, the supply curve is drawn as a slope rising upward from left to right, since product price and quantity supplied are directly related (i.e., as the price of a commodity increases in the market, the amount supplied increases, and at a lower price, supply decreases).
Increase in production subsidies will shift
The demand curve to the left
The supply curve to the right
Both the supply demand curves to the left
Supply curve to the left and demand curve to the right
Correct answer is B
Subsidy impact. Marginal subsidies on production will shift the supply curve to the right until the vertical distance between the two supply curves is equal to the per unit subsidy; when other things remain equal, this will decrease price paid by the consumers (which is equal to the new market price) and increase the price received by the producers.
Aborigine's Rights Protection Society (ARFS)
National Congress of British West Africa (NCBWA)
Movement of Educated Elites in West Africa (MEEWA)
West Africa Frontier Forces(WAFF)
Correct answer is A
No explanation has been provided for this answer.
Establishment of native courts
the appointment of resident district commissioners
establishment of the native courts
exclusion of the educated elites
Correct answer is C
No explanation has been provided for this answer.