Question
1.Which of the following BEST describes the price elasticity of demand of a downward sloping demand curve? ADecreasing elasticity of demand as price decreases B.The
1.Which of the following BEST describes the price elasticity of demand of a downward sloping demand curve?
ADecreasing elasticity of demand as price decreases
B.The same elasticity of demand throughout
C. Increasing elasticity of demand as price decreases
D Unitary elasticity of demand throughout
2.Which oft he following influence the labour force participation rate?.
i Total Population
ii.Demand for labour
iii.Change in attitudes
A. I and II only
B.I and III only
C. II and III only
D. I, II and III
The MRP curve slopes downward because
A . will pay more to attract factors from other uses
B. less of a factor is demanded at a lower price
C.more of a factor is demanded at a lower price
D.the marginal physical product is constantly falling
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