Question No: 3 ( M a r k s: 1 )
The supply curve is upward-sloping because:
► As the price increases, consumers demand less.
► As the price increases, suppliers can earn higher levels of profit or justify higher marginal costs to produce more.
► None of the given options.??? m not sure
► As the price increases, so do costs
On Fri, Aug 12, 2011 at 5:46 PM, █▓Binish_Awais█▓ <greyferry@gmail.com> wrote:
The demand curve for chicken is downward-sloping. Suddenly the price of chicken rises from Rs.130 per kg to Rs.140 per kg. This will cause:
► The demand curve for chiken to shift to the left.
► The demand curve for chiken to shift to the right.
► Quantity demanded of chiken to increase.
► Quantity demanded of chiken to decrease.On Fri, Aug 12, 2011 at 5:31 PM, █▓Binish_Awais█▓ <greyferry@gmail.com> wrote:
Eco 401 midterm paper mcqs plz answer with refrences :
In pure capitalism, freedom of enterprise means that:
► Businesses are free to produce products that consumers want.
► Consumers are free to buy goods and services that they want.
► Resources are distributed freely to businesses.
► Government is free to direct the actions of businesses.
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