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Demand and supply relationship

Authored by songoku doraemon

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University

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Demand and supply relationship
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is demand function

Qd = a - b.P

Qs = c + d.P

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is supply function

Qd = a - b.P

Qs = c + d.P

3.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Qd = 25-3P

Qs = 2P

Calculate equilibrium price. (Write a number)

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The price and quantity at which quantity demanded and quantity supplied are equal called equilibrium.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A rise in price of other goods that could be supplied by the producer leads to a leftward shift in the supply curve.

true

false

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A fall in production costs leads to a rightward shift in the supply curve.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The effects of taxes lead to a leftward shift in the supply curve.

TRUE

FALSE

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