This is a list of Economics Assignment questions and answers covering various topics such as demand and supply, microeconomics, macroeconomics, and more. The content includes 87 questions with options and answers. The subject is Economics and the course code and college/university are not mentioned.
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0 Running Head: V Economics Assignment Questions and Answers
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ECONOMICS ASSIGNMENT1 Question NumberOptionAnswers 1.BUpward movement along the demand curve 2.D0 3.AMB>MC 4.CInelastic 5.DSupply curve shifts leftwards 6.BLimited resources 7.A$1500 8.BIncrease supply with increase in price 9.B$20 10.DRelative price of LG falls 11.AAddition to TC 12.CSome fixed resources 13.APrice increases and demand falls 14.CCooperative game 15.BCheaper production 16.DEquilibrium quantity will rise 17.CMR=0 18.BDemand curve and MR curve 19.DPrice of plastic bags will increase 20.DQuantity will increase and price will decrease 21.CNo sacrifice of output is involved, as both can be produced more efficiently. 22.BMicroeconomics: individual Macroeconomics: aggregate 23.DIt falls. 24.CMaximise the profits by minimising damage from competition 25.CRelatively elastic 26.BProducers will produce other goods
ECONOMICS ASSIGNMENT2 27.C$400 28.BPrice decrease, QS: decreases, QD: increases 29.BAverage variable cost 30.BEqual to $1.95 31.CNot maximising profits 32.APer unit cost declines with increase in output 33.CMicroeconomics and macroeconomics 34.BMarginal benefit of additional unit equals zero 35.BIncreases 36.CMore oranges and less bananas 37.AQuantity: same Price: rise 38.CShortage of wheat 39.DBelow demand curve and above the price line 40.BPrice of the product 41.B-15 bicycles 42.ADiminishing marginal utility 43.AFirm demand: perfectly elastic 44.D$68 45.BIncrease tuition to increase revenue 46.CDo not vary with output 47.AImproved education and training 48.CIllegal means 49.DScarcity 50.AFour cupcakes sacrificed for one cake 51.BPrice and quantity supplied 52.BFewer oranges and more bananas 53.DBecomes smaller 54. 55.CEconomies of scale
ECONOMICS ASSIGNMENT3 56.CEconomic profits are zero 57.CAFC 58.DFactor market 59.BPositive economic statement 60.BPrice maker 61.CEqual to infinity 62.CInelastic demand 63.BDemand for Chinese food will increase 64.BConsumer surplus will decrease 65.CIncrease in demand for biofuels 66.D15 bicycles 67.AExpand output 68.CShut down 69.DFirm chooses best strategy given the strategies of the others 70.C500 71.AProduction of both can be increased 72.CDemand and supply forces 73.BMR=MC 74.CCorn is more abundant than before 75.CMR=P 76.B$4.50 77.DPrice and quantity will increase 78.ASurplus will be created 79.BInterest, profits, rent, wages and salaries 80.CLess than $500 81.BIncrease profit by increasing output 82.DIt increases 83.DBoth will decrease 84.CIncrease
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