A. demand is price inelastic
B. supply is price elastic
C. supply is price inelastic
D. demand is price elastic
Related Mcqs:
- Suppose there is an increase in the both the supply and demand for personal computers Further, suppose the supply of personal computer increase more than demand for personal computers In the market for personal computers i the market for personal computers, we would expect ?
A. the change in the equilibrium quantity to be ambiguous and the equilibrium price to fall.
B. the equilibrium quantity to rise and the equilibrium price to rise
C. the equilibrium quantity to rise and the change in the equilibrium price to be ambiguous
D. the equilibrium quantity to rise and the equilibrium price to fall
E. the equilibrium quantity to rise and the equilibrium price to remain constant - Suppose that the supply curve of tin is highly inelastic. If the demand curve of tin decrease and increase cyclically along the supply curve of tin, then in this market the size of the quantity fluctuation will bathe size of the price fluctuations ?
A. relatively greater than
B. relatively less than
C. the same as
D. Any of the above - An upward shift in marginal cost _____ output and an upward shift in marginal revenue ______ output?
A. reduces; reduces
B. reduces; increases
C. increases; increases
D. increases; reduces - Suppose that the demand curve for tin is highly inelastic. If the supply curve of tin decrease and increase cyclically along the demand curve for tin then in this market the size of the price fluctuation will be __________ the size of the quantity fluctuations?
A. relatively greater then
B. relatively less than
C. the same as
D. any of the above - A decrease (leftward shift) in the supply for a good will tend to cause ?
A. an increase in the equilibrium price and quantity
B. a decrease in the equilibrium price and an increase in the equilibrium quantity
C. none of these answers
D. a decrease in the equilibrium price and quantity.
E. an increase in the equilibrium price and a decrease in the equilibrium quantity - If an increase in the price of a good has no impact on the total revenue in that market demand must be ?
A. all of these answers
B. price inelastic
C. unit price elastic
D. price elastic - If an input necessary for production is in limited supply so that an expansion of the industry raises costs for all existing firms in the market, then the long-run market supply curve for a good could be ?
A. perfectly inelastic
B. perfectly elastic
C. upward sloping
D. downward sloping - Which of the following best describes how an increase in the money supply shift the aggregate demand curve ?
A. The money supply shifts right prices fall spending increases and the aggregate demand curve shifts right
B. The money supply shifts right the interest rate rises investment decreases and the aggregate demand curve shifts left
C. The money supply shifts right the interest rate falls, investment increases, and the aggregate demand curve shifts right
D. The money supply shifts right, prices rise, demand curve shifts left - If all firms in a market have identical cost structures and if inputs used in the production of the good in that market are readily available, then the long-run market supply curve for that good should be ?
A. downward sloping
B. perfectly inelastic
C. upward sloping
D. perfectly elastic - What will a decrease in the supply of fishermen do to the market for capital employed in the fishing industry ?
A. increase the demand for fishing boats and decrease rental rates on fishing boats
B. decreases the demand for fishing boats and increase rental rates on fishing boats.
C. decreases the value of the marginal product of fishermen, reduces their wage, and increases employment in the fishing industry
D. increase the demand for fishing boats and increase rental rates on fishing boats
