ECS2601 Assignment 1-S2-Questions & Solutions A+

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,
, ECS2601-23-S2  Welcome Message  Assessment 1

QUIZ




Started on Wednesday, 16 August 2023, 8:25 AM
State Finished
Completed on Wednesday, 16 August 2023, 8:52 AM
Time taken 27 mins 15 secs
Marks 18.00/20.00
Grade 90.00 out of 100.00


Question 1
Complete

Mark 1.00 out of 1.00




Which of the following statements is FALSE?




a. Cross elasticity of demand is positive between complements.

b. Income elasticity of demand is positive for normal goods.

c.
Price elasticity of demand is negative for most products.



d. Price elasticity of supply is positive for most products.




Question 2
Complete

Mark 1.00 out of 1.00




The market supply curve is the vertical summation of all the individual supply
curves.


Select one:
True

False