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Worksheetsecon_demand & supply_market structure
Total questions: 10
Worksheet time: 4mins
In monopoly, the company is also the industry.
True
False
Maybe
I do not know
The purchasing power of many sectors of the economy declines as prices fall.
True
False
Maybe
I do not know
________ elasticity refers to the reaction or response of the buyers to changes in price of goods and services.
Supply elasticity
Demand elasticity
Income elasticity
Cross elasticity
Other things being equal or constant.
Ceteris paribus
Citiris paribus
Ceteris parebus
Ceteris paribous
The assumption that households possess a knowledge of the qualities and prices of everything available in the market and that firms have all available information regarding wage rates, capital costs, and output prices.
Perfect knowledge
Knowledge is power
Complete knowledge
Imperfect knowledge
Forgone opportunity or alternative benefit.
Opportunity cost
Sunk cost
Incentives
Business opportunities
A change in price has no effect on quantity demanded.
Elastic
Inelastic
Perfectly elastic
Perfectly inelastic
Please refer to the graph. What is the type of supply elasticiy?
Elastic
Inelastic
Unitary
Perfectly elastic
4 PICS 1 WORD - 5 letter word
(a)
4 PICS 1 WORD - 6 letter word
(a)
