Supply, Demand and Equilibrium
TOTAL POINTS 18
1.Question 1
The Law Of Demand states that:1. The lower the price, ceteris paribus, the more units a consumer will demand.2. The higher the price, ceteris paribus, the less the consumer will demand.Both 1 and 2
Don’t know
1 point
2.Question 2
Don’t know
1 point
3.Question 3
Why does quantity demanded tend to fall as price rises?
The Substitution Effect
The Income Effect
Both 1 and 2
Don’t know
1 point
4.Question 4
Don’t know
1 point
5.Question 5
Don’t know
1 point
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- Spring '17
- Prof. Ramanna Shetty
- Supply And Demand
