erease in the price of public transportation A large decrease in the price of au
ID: 1127706 • Letter: E
Question
erease in the price of public transportation A large decrease in the price of automobiles A large reduction in the costs of producing gasoline A. Ionly. B. only. C. only. D. Il and IlI anly the tolloving wil a shift to the right of the demand curve for X? A A decrease in the price of X B. An increase in the price of a good that is a complement to C An increase in the price of a good that is a substitute for X D. All of the above 8. You are analysing the demand for good X. Which of the good X 9. The price of good A goes up. As a result the demand for good B shifts to e eft From this we can infer that A good A is used to produce good E B good B is used to produce good A C goods A and B are subsitutes D. goods A and B are complements Scenario 1 market is producing Q Assume a certain fim in a At Q-1.000, hems marginal cost equals $15 and its average total cost equals 1,000 units of output. 11. The fim sells its output for $12 per unit la Rete to Scenario 1. AtQ=1,000, thefirm's profits equal A $200 B$1.000 C $3 000 11 RefertoSceaitTorainze its profit, the frm should A increase its output. B continue to produce 1,000 units 12 Far a fim atments s og etive industry, which of the following in a D.Explanation / Answer
8. Option A
With the decrease in price the demand will increase which causes the demand curve to shift to right
9. Option D.
Complementary goods go hand in hand for if the price of the petrol goes up then the sales of car would decline
10. Option B
Q
MC
ATC
P
1000
15
11
12
TR
12000
TC
11000
P
1000
11. Option A.
In a competitive sector it needs to increase output
.12. Option B
Because of competetion firms would be forced to operate at P=MC=MR
Q
MC
ATC
P
1000
15
11
12
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