Economics Past Questions and Answers

A demand which gives rise to the reverse of the law of demand is__________

Demanded
8	10
6	12

If we move from 8 to 6, the elasticity of demand is_______

The demand curve facing the monopolist in the foreign market is__________

A retailer is distinguished by the nature of its sales, which is in___________

Given two substitute goods (X and Y) with demand and supply function;
Qd = 7p - 12
Qs = 4p + 9
Find the magnitude of excess demand when p = #18