Economics Practice Test 45
Total Revenue and Price Elasticity of Demand Quiz Questions and Answers PDF - 45
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The Quiz: A situation where both prices and total revenue are supposed to move in different directions is known as; "Total Revenue & Price Elasticity of Demand" App Download (Free) with answers zero elastic, elastic, unit inelastic and zero inelastic for online masters in economics degree. Solve elasticity and its application questions and answers to improve problem solving skills for online classes for business management degree.
Total Revenue & Price Elasticity of Demand Questions and Answers PDF Download: Quiz 45
MCQ 221: A situation where both prices and total revenue are supposed to move in different directions is known as
- elastic
- zero elastic
- unit inelastic
- zero inelastic
MCQ 222: A group of companies countries or other entities that agree to work together to influence market prices by controlling the production and sale of a particular product is known as
- collusion
- cartel
- inventory
- hoarding
MCQ 223: The cost which is actually incurred by the organization, during production is called as
- explicit cost
- implicit cost
- economic profit
- total cost
MCQ 224: A type of trade bloc which is composed of a free trade area with a common external tariff is known as
- custom union
- trade union
- industrial union
- society union
MCQ 225: The process in which one country loses its most educated and talented workers to other countries through migration is known as
- urban migration
- rural migration
- international migration
- brain drain
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