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A right ward shift in the supply curve assuming no change in demand curve will a. Increase the price and decrease the quantity demanded. Decrease...
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7 economic questions please answer them. There are multi choice and answering questions

1. A right ward shif in the supply curve assuming no change in demand curve will a. Increase the price and decrease the quanTty demanded. b. Decrease the price and increase the quanTty demanded. c. Price and quanTty will be the same d. None oF the above 2. Last year, ±aTma bought 4 pairs oF shoes when her income was AED 40,000. ²his year, her income is AED 50,000 and she purchased 10 pairs oF shoes. Holding other Factors constant, it Follows that Sanchari a. considers shoes to be a necessity b. considers shoes to be an inFerior good c. considers shoes to be a luxurious good d. has a low price elasTcity oF demand For shoes e. 3. Monopoly power in a market is likely to a. Increase consumer surplus b. Decrease consumer surplus c. Increase producers surplus d. Decrease producers surplus a. Both a and d b. Both b and c 4. At 5 dhs per unit, Arun buys 50 units oF pen. When price Fell to 2 dhs per unit oF pen he started buying 100 units oF pen. How much consumer surplus he gained due to this change. ____________________ 5. Mr ±aisal likes apple very much and suddenly the price oF apple increased and he had to reduce the consumpTon oF it. Suddenly his income has increased and he also increased the consumpTon oF apple. Which oF the Followings are true a. Apple has downward sloping demand curve b. Apple is normal good 1 5 2 50 100 Pen Price
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c. Apple is inferior good d. Apple is giFen good 6. Tara has AED 100 to spend, and she can buy shoes and t-shirts. The price of a pair of shoes is AED 50, and the price of a t-shirt is AED 20. Draw the budget line. What happens if prices and Tara’s income grow by 20%? 7. Opportunity cost of sunk cost is a Posi±ve b Nega±ve c In²nity d Zero 2
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Subject: Business, Economics

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