hat does it mean by when you say " market forces takes its own course". a. you temper supply or demand to achieve equilibrium b. you let buyers and sellers agree on price base on SP (suggested retail price) c. you let demand and supply floats to create a market condition d. you let demand and supply dictate the price In the computation of Price elasticity of Demand, when percentage change in Quantity and percentage change in Price is the same, it results to? a. unit elastic demand b. perfectly elastic demand c. relatively elastic demand d. perfectly inelatic demand Agricultural product are always classified as a. Capital goods as they are mostly used as raw materials b. Elastic Goods c. Economic Goods d. Inelastic goods
hat does it mean by when you say " market forces takes its own course". a. you temper supply or demand to achieve equilibrium b. you let buyers and sellers agree on price base on SP (suggested retail price) c. you let demand and supply floats to create a market condition d. you let demand and supply dictate the price In the computation of Price elasticity of Demand, when percentage change in Quantity and percentage change in Price is the same, it results to? a. unit elastic demand b. perfectly elastic demand c. relatively elastic demand d. perfectly inelatic demand Agricultural product are always classified as a. Capital goods as they are mostly used as raw materials b. Elastic Goods c. Economic Goods d. Inelastic goods
Principles of Economics (MindTap Course List)
8th Edition
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter7: Consumers, Producers, And The Efficiency Of Markets
Section: Chapter Questions
Problem 6PA
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What does it mean by when you
say " market forces takes its own
course".
a. you temper supply or demand to
achieve equilibrium
b. you let buyers and sellers agree on
price base on SP (suggested retail
price)
c. you let demand and supply floats to
create a market condition
d. you let demand and supply dictate
the price
In the computation of Price
elasticity of Demand , when
percentage change in Quantity
and percentage change in Price is
the same, it results to?
a. unit elastic demand
b. perfectly elastic demand
c. relatively elastic demand
d. perfectly inelatic demand
Agricultural product are always
classified as
a. Capital goods as they are mostly
used as raw materials
b. Elastic Goods
c. Economic Goods
d. Inelastic goods
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