Re: ::: vuaskari.com ::: ECO401 MCQs discussion threads

which option is correct

 

Following are the disadvantages of monopoly EXCEPT:      

► Monopolists earn higher profits.      

► Monopolists produce high quality goods at higher prices.      

► Most of the "surplus" (producer + consumer surplus) accrues to monopolists. 
► Monopolists do not pay sufficient attention to increasing efficiency.

On Tue, Oct 11, 2011 at 9:57 AM, mc110403116 Madiha Altaf <mc110403116@vu.edu.pk> wrote:

A higher prices reduces quantity demanded

On Mon, Oct 10, 2011 at 5:09 AM, Zahid <zahid678@gmail.com> wrote:

which option is correct

 

Which of the following best expresses the law of demand?

 

       ► A higher price reduces demand.

       ► A lower price reduces demand.

       ► A higher price reduces quantity demanded.

       ► A lower price shifts the demand curve to the right.

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