Economics - Practice Test | ExamPrepSheets

(A) (R) is appropriate reason of (A)

(B) (R) is not appropriate reason of (A)

(C) (A) and (R) are not related with each other

(D) (A) is independent of (R)

(A) (R) is appropriate reason of (A)

(A) advertise its product on television

(B) have difficult time obtaining information about the market price

(C) settle for whatever price is offered

(D) have an easy time keeping other firms out of the market

(C) settle for whatever price is offered

(A) Food imports check the rent from rising

(B) rent accrues to good lands only

(C) rent is a monopoly receipt also

(D) rent is excess earning over the transfer earnings

(B) rent accrues to good lands only

(A) $${e_a} = frac{{{Q_1} - {Q_2}}}{{{Q_1} + {Q_2}}} div frac{{{P_1} - {P_2}}}{{{P_1} + {P_2}}}$$

(B) $${e_a} = frac{{{Q_1} + {Q_2}}}{{{Q_1} - {Q_2}}} div frac{{{P_1} + {P_2}}}{{{P_1} - {P_2}}}$$

(C) $${e_a} = frac{{{Q_1} - {Q_2}}}{{{P_1} - {P_2}}} div frac{{{Q_1} - {Q_2}}}{{{P_1} + {P_2}}}$$

(D) None of these

(A) $${e_a} = frac{{{Q_1} - {Q_2}}}{{{Q_1} + {Q_2}}} div frac{{{P_1} - {P_2}}}{{{P_1} + {P_2}}}$$

(A) horizontal

(B) exponential

(C) rectangular hyperbolic

(D) L-shaped

(B) exponential

Economics - Study Mode