Crowdly
Add to Chrome
ECS1501-25-Y
Looking for ECS1501-25-Y test answers and solutions? Browse our comprehensive collection of verified answers for ECS1501-25-Y at mymodules.dtls.unisa.ac.za.
Get instant access to accurate answers and detailed explanations for your course questions. Our community-driven platform helps students succeed!
What does a price elasticity of supply of zero mean?
0%
0%
0%
0%
View this question
Which of the following goods is most likely to have a negative income elasticity of demand?
❌
❌
✅
❌
View this question
If we refer to an inferior good, it means that the quality of the product is poor.
❌
✅
View this question
If an increase in the price of sugar leaves the total expenditure on sugar (which is also the total revenue of the suppliers of sugar) unchanged, then the price elasticity of the demand for sugar is equal to one.
✅
❌
View this question
The government imposes a price ceiling on rent in a city with a high demand for housing. What would be an unintended consequence of this policy?
❌
✅
❌
❌
View this question
What is the main purpose of a government-imposed maximum price in a competitive market?
0%
0%
0%
0%
View this question
Governments set maximum prices to protect consumers from the exploitation of producers.
✅
❌
View this question
View this question
This question is based on the following diagram.
At a price of R15
0%
0%
0%
0%
View this question
This question is based on the following diagram. 
Which of the following would cause the supply curve to shift from Supply A to Supply C in the market for winter coats?
0%
0%
0%
❌
View this question