Other things being equal a decrease in demand can be caused by
A) a fall in price of the commodity
B) a fall in income of the consumer
C) a rise in price of the substitute
D) none of these
Correct Answer:
Verified
Q3: If the long run cost curve shifts
Q4: The U shape of the LAC reflects
A)law
Q5: A production possibility curve is concave to
Q6: The deductive method is also called
A)abstract
B)analytical
C)priori method
D)all
Q7: An Essay on the Nature and Significance
Q9: When price of a product falls, more
Q10: "Utility or satisfaction is a subjective concept;
Q11: The basic doctrine of consumers surplus is
Q12: According to Marshall, The law of diminishing
Q13: Indifference curve is always
A)concave to the origin
B)convex
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