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22 Aug 2018
1. Suppose the demand for good X is given by Qdx = 10 + axPx + ayPy + aMM. If ay is positive, then:
A. goods y and x are complements.
B. goods y and x are inferior goods.
C. goods y and x are normal goods.
D. goods y and x are substitutes.
2. Suppose the supply of good X is given by QSx = 10 + 2Px. How many units of good X are produced if the price of good X is 20?
A. 10.
B. 20.
C. 30.
D. None of the statements associated with this question is correct.
1. Suppose the demand for good X is given by Qdx = 10 + axPx + ayPy + aMM. If ay is positive, then:
A. goods y and x are complements.
B. goods y and x are inferior goods.
C. goods y and x are normal goods.
D. goods y and x are substitutes.
2. Suppose the supply of good X is given by QSx = 10 + 2Px. How many units of good X are produced if the price of good X is 20?
A. 10.
B. 20.
C. 30.
D. None of the statements associated with this question is correct.
2 Jun 2021
