Question

State with reasons whether you agree or disagree with the following
statements :
1.Supply curve slopes upward from left to right.
2.There is no difference between stock and supply.
3.Price is the only determinant of demand.
4.When Marginal Utility (MU) is zero, Total Utility (TU) is maximum.​

Answer 1

Answer:

1. agree because it will help manage the traffic better
2. disagree because stock is the resources that we have and supply is the resources that we receive
3. disagree because price is not the only determinant of demand situation regarding geography acid also play a role
4. disagree because when marginal utility is zero it is not necessary that total utility will be maximum