MCQs: The price of apples falls by 5% and quantity demanded increases by 6% This means that demand is ?
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MCQs: A movement along the demand curve to the left may be caused by ?
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MCQs: An increase in aggregate demand if aggregate supply is totally inelastic will ?
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MCQs: When excess demand occurs in an unregulated market, there is a tendency for ?
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MCQs: Which of the following is consistent with the law of supply ?
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MCQs: If the demand for coffee decreases as income decreases, coffee is ?
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MCQs: When the decrease in the price of one good causes the demand for another good to decrease, the goods are_________?
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MCQs: The quantity demanded of Pepsi has decreased. The best explanation for this is that ?
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MCQs: The Setrite Corporation produce chairs. An economist working for the firm predicts that if people’s incomes rise next year, then the demand for our chairs will for our chairs will increase ceteris paribus The accuracy of the economist’s prediction depends on whether the chairs Setrite Produce ?
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MCQs: If both marginal cost and marginal revenue increase, a firm ?
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MCQs: A firm that breaks even after all economic costs are paid is earning ?
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MCQs: If a firm wage costs increase this will cause __________ and __________?
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MCQs: Profits are maximized when ?
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MCQs: The increase in total cost when one more unit is produced is known as ?
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MCQs: Adding up the quantities demanded of a good by different people facing the same price gives us the ?
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MCQs: Economics assumes that people consume goods and services to achieve ?
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MCQs: The income effect of a price increase of a normal good is to ________ of that good and the substitution effect is to _________ of that good?
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MCQs: Inferior goods have _________ and luxury goods have _________?
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MCQs: Positive cross elasticities suggest that goods are ____ and negative cross-elasticities that goods are ?
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MCQs: If demand is __________ then price cuts will _________ spending?
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