Question

leves the e nt e rs the que le che mer ef the chain thar in wer rity of present for cheating will w cheating during the exams The statement: An increase in the w Positive en Not enough information to wwwer the question The case of perfectly the supply is illustrated by supply correth c, downward sloping but relatively step D none of the above t e Same iego 3. Suppose that a medical research states that tack chocolate with a face is he previously believed, leading consumers to develop a vurger preference for black ho l time, a severe weather condition has resulted in reduction in cacao productie Hongr constant, we can conclude that: A Both the equilibrium price an quantity have increased B. The equilibrium price of black chocolate is undermined C. The equilibrium quantity of black chocols undermined D. Both the equilibrium price in quantity have decreased 4. Economies is the study of A. scarcity: B. poverty. C. change D. power. 5. The opportunity cost of an item is A the number of hours needed to earn money to buy the em B. what you give up to get that item u ally less than the dollar values of the item D. the dollar value of the item. C 6. Suppose that whenever the price of bread increases, we observe that the demand for bluche decreases and the demand for bagels increases. Given this information and holding everythia constant, which of the following statements are correct? A. Bread and blueberry jam are complements, bread and bagels are substitutes B. Bread and bagels are complements; bread and blueberry jam are substitutes. C. Bread and blueberry jam are normal goods, bagel is an inferior good. D. Bread and blueberry are inferior goods, bagel is a normal good.

leves the e nt e rs the que le che mer ef the chain thar in wer rity of present for cheating will w cheating during the exams The statement: An increase in the w Positive en Not enough information to wwwer the question The case of perfectly the supply is illustrated by supply correth c, downward sloping but relatively step D none of the above t e Same iego 3. Suppose that a medical research states that tack chocolate with a face is he previously believed, leading consumers to develop a vurger preference for black ho l time, a severe weather condition has resulted in reduction in cacao productie Hongr constant, we can conclude that: A Both the equilibrium price an quantity have increased B. The equilibrium price of black chocolate is undermined C. The equilibrium quantity of black chocols undermined D. Both the equilibrium price in quantity have decreased 4. Economies is the study of A. scarcity: B. poverty. C. change D. power. 5. The opportunity cost of an item is A the number of hours needed to earn money to buy the em B. what you give up to get that item u ally less than the dollar values of the item D. the dollar value of the item. C 6. Suppose that whenever the price of bread increases, we observe that the demand for bluche decreases and the demand for bagels increases. Given this information and holding everythia constant, which of the following statements are correct? A. Bread and blueberry jam are complements, bread and bagels are substitutes B. Bread and bagels are complements; bread and blueberry jam are substitutes. C. Bread and blueberry jam are normal goods, bagel is an inferior good. D. Bread and blueberry are inferior goods, bagel is a normal good.

Answer 1

Q1) option B)

It's a normative statement

2) option B)

Perfecfly Elastic curve has zero Slope, hence horizontal curve

3) option C)

Demand shifts right, while supply shifts to left upwards

So price will rise for sure, but Quantity will be undetermined

4) option A)

Economics deals about the efficient Allocation of scarce resources

5) option B)

Opportunity Cost implies the value of the second best alternative , that is given up , for the selection of current option

6) option A)

Bread & blueberry are Complements

& Bread , bagles are Substitutes

its mandatory to answer at least first 4 MCQ