Supply and Demand

A. Horizontal
B. Vertical
C. Downward Sloping
D. Upward Sloping

Submitted by: OWAIS SALEEM

A. Economic profit
B. Accounting profit
C. Normal profit
D. supernormal profit

A. reduces; reduces
B. reduces; increases
C. increases; increases
D. increases; reduces

A. Change in average revenue, increased
B. Change in total revenue, increase by one unit
C. change in average revenue, increased by one unit
D. change in total revenue increased

A. incur, desire
B. pay, make
C. charge earns
D. minimize, maximize

A. Marginal utility
B. Additional utility
C. Surplus utility
D. Bonus utility

A. Course fees and rent
B. A loan from the bank
C. What the student could have earned in the best job available by not studying
D. What the student will earn after graduation

A. increase
B. not change
C. decrease
D. shift

A. Price elasticity of demand
B. Cross-price elasticity of demand
C. budget elasticity of demand
D. income elasticity of demand

A. The responsiveness of quantity demanded to a change in price
B. How far a demand curve shifts
C. a change in price
D. a change in quantity demanded