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ECO401 Solved Online Quiz No. 1 Solution and Discussion Spring 2017 Due Date May 04, 2017

Dear Students!

This is to inform that Quiz # 01 will be opened on May 02, 2017 and last date to attempt quiz will be May 04, 2017. Quiz will cover Lessons 01-07.

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Please all students related this subject Share your online Quizzes here to help each other.thanks

This is what I attempted the online quiz# and sharing first! CHeck the questions , Good luck

1: consumers can make rational decisions by using


2: if a good is having inelastic demand then if price rises


3:factor market which are also termed as resource market exchange the


4:when railways authority raises its fares it may experience an increase in total revnue.This suggests that demand is:


5:Rabia decides to look after her baby at home rather than going out with her friends in a park.His dilemma ia an example of:


6:The demand curve for eggs is downward sloping.Suddenly the price of eggs increase from Rs.80/- per dozen to Rs.100/- per dozen. This will cause:


7:Total revenues will remain unchanged when:


8:When the price elasticity of demand for a good is greater than 1, we say that the demand is:


9:“Q = c+d P” represents the equation of:


10:When producers are unable to meet market demand for the product, this results as:


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