21.
The wage rate paid by Easy Day producers falls, and at the same time, the price of raw material used in the production of Easy Day rises. You predict that the supply curve of Easy Day will

23.
If in a purely competitive market with downward-sloping demand and upward sloping supply curves, a specific excise tax per unit of output is imposed, then

24.
Assertion (A) The demand curve has negative slope showing inverse relationship between price and the quantity demanded.
Reason (R) It applies only to giffen goods.

25.
According to monetarists, the great depression in the united states largely resulted from

27.
An increase in demand combined with no changes in the supply curve will cause

28.
With reference to the cost, which of the following statement is/are correct?
1. Variable cost per unit remain constant
2. Fixed cost per unit remains constant
Select the correct answer

30.
Which of the following statements is true?