11. Which of the following causes an increase in the quantity supplied of good X but NOT in the supply of good X?
12. Because of increasing marginal cost, most supply curves
13. The law of demand implies that, other things remaining the same,
14. Which of the following pairs of goods are most likely substitutes?
15. The demand curve for a normal good shifts leftward if income ________ or the expected future price ________
16. Good A and good B are substitutes in production. The demand for good A increases so that theprice of good A rises. The increase in the price of good A shifts the
17. Wants, as opposed to demands,
18. A reduction in the price of a good
19. The quantity supplied of a good is
20. The demand for a good increases when the price of a substitute ________ and also increases whenthe price of a complement ________.
MCQ Multiple Choice Questions and Answers on Demand and Supply
Demand and Supply Question and Answer