Supply of agricultural products is likely to be elastic in the
Two commodities X and Y are in joint supply when
Units of quantity consumed | Total utility | Marginal utility |
0 | - | - |
1 | 10 | 10 |
2 | 15 | 5 |
3 | 17 | 2 |
4 | 18 | 1 |
5 | 18 | 0 |
The table above illustrates the law of?
When the price of a good is above the equilibrium, there will be
What happens when a minimum price is imposed in a market?