Tables Charts SmartArt Review Paragraph Styles No Spacing Heading 1 Heading 2 Ti
ID: 1128391 • Letter: T
Question
Tables Charts SmartArt Review Paragraph Styles No Spacing Heading 1 Heading 2 Title 3 1. The demand curve slopes downward to the right due to which of the following reasons? . A. As consumers consume additional units of a good the value rises consequently price rises. B. As consumers consume additional units of a good the value falls consequently price rises. C.As consumers consume additional units of a good the value iscs consequently price falls D. As consumers consume additional units of a good the value falls consequently price falls 2. A market comprises sellers but not buyers without any use of prices True or false 3. Along a downward sloping curve if Y goes from 20- 12 and X goes from 40- 55 then the slope is which of the following? A-1.63 B.2.33 C 43 D. 53 4. According to the consumption trade-off which of the following is correct? A. Resources are diverted away from the production of some goods today to produce goods that will create fewer goods and services currently B. Resources are diverted away from the production of some goods today to produce goods that will create more goods and services in the future C. Resources are diverted away from the production of some goods today to produce goods that will create fewer goods and services tomorrow, D. Resources are diverted away from the production of some goods today to produce goods that will create fewer goods and services in the future. Sec 1 Pages Words: 208 of 232 .Explanation / Answer
1. the demand curve slopes downward to the right due to as consumer consumes additional unit of a good the value falls consequently the price falls. Because as the consumer consumes additional unit of a good, marginal utility from the good decreases.
2. A market comprises sellers but not buyers without any use of prices. TRUE because market comprises sellers and buyers then , there is use of prices. But if there are not any buyers then there is not use of prices.
3. Along a downward sloping curve if Y goes from 20 to 12 and X goes from 40 to 55 , then the
slope = change in Y /Change in X
Slope =( 20-12) / (40-55)
= -8/15
SLOPE = -0.53
Therefore, option(D) is correct.
4. According to the consumption trade -off , Resources are diverted from the production of some goods today to produce goods that will create more goods and services in the future. Therefore, option(B) is correct.
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