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  3. 9. if the price of a related good a changes, then

9. If the Price of a related good A changes, then for good B stay on...

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Economics

9. If the Price of a related good A changes, then for good Bstay on the same demand curve, and move along it, as opposed toshifting to a new demand curve.

True or False

10.If the Income Elasticity of deamnd for a good is negative, wecan say that the good is normal good.

True or False

11. Own price elasticity of demand is always negative, becauseof the law of demand.

True or False

12. A firm in a perfectly competitive market, finds that it's MR= MC occurs at Q = 100, at which point the market Price is $8. Whatis the firm's TR at this point?

a.100

b.8

c.800

d.10.50

Answer & Explanation Solved by verified expert
4.1 Ratings (706 Votes)
9FalseFor solving this question firstly we need to understand thedifference between demand and quantity demandedQuantity demanded changes only with respect to change in pricebut    See Answer
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