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This set of Principles of Micro Economics Multiple Choice Questions & Answers (MCQs) focuses on Principles Of Micro Economics Set 7

Q1 | If a positively sloped linear supply curve crosses the quantity axis, theelasticity of supply is:
Q2 | The horizontal supply curve parallel to quantity axis represents:
Q3 | A fall in income of the consumer, other things being equal, causes:
Q4 | Which of the following causes an increase in supply:
Q5 | Cross elasticity of demand in the case of substitutes:
Q6 | A movement down the given demand curve shows:
Q7 | Which of the following results in an increase in an increase in demand:
Q8 | Change in quantity supplied of a product can result from:
Q9 | An increase in supply means:
Q10 | At prices above the equilibrium price:
Q11 | An increase in market supply, demand remaining the same causes:
Q12 | An increase in market demand, supply remaining the same results in:
Q13 | A fall in the market demand, supply remaining the same results in:
Q14 | Which one of the following elasticities takes the average of prices andquantities:
Q15 | When demand curve is rectangular hyperbola, the value of price elasticity ofdemand will be: