Qualification > Commerce

MCQ. ECONOMICS P1

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Freaked12:
In question 10
It says the equilibrium price is 2000 (from 4 units)

You can see the firm Z is 2 units short of equilibrium price so it would be the buyer and firm X has two surplus units so it would want to sell to reach the equilibrium point therefore the answer is D

Freaked12:
i think 11 should be A

but its giving C :/

Alpha:
"It also depends directly on the level of output of Firm Y."

Firm X does not participate in the output generation of firm Y, but it is still dependent on it. Firm X is bearing the consequences of firm Y's production activities => it is an externality for firm X.

A cannot be the answer, cause you are told the output depends, not the demand.

the winner:
are mcq tougth for AS LEVEL

Alpha:

--- Quote from: the winner on November 06, 2010, 07:01:52 pm ---are mcq tougth for AS LEVEL

--- End quote ---

Not if you are well prepared.

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