Question

microeconomics
Answer the following questions and test your IQ. Seek teacher's help or visit the Helpline
for self assessment. Each question carries one mark. You are to simply tick (1) Yes or No.
Increase in supply means more is sold because market price tends to increase.
Yes/No
Firm's supply curve shows its supply function.
Yes/No
When new technology is discovered, supply curve tends to shift to the left.
Yes/No
Es = 1 only if supply curve forms a 245° at the origin.
Yes/No
When a firm is using some rigid technology, its Es tends to be high.
Yes/No
Supply is more responsive to price during the long period than during
the short period.
Yes/No
Increase in price always causes increase in sales of a commodity.
Yes/No
cocamant​

Answer 1

Explanation:

1st

yes

2nd

yes

3rd

yes

4th

yes

5th

yes

6th

yes

7th

yes

8th

yes