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1. The slope of demand curve is evaluated by dividing change in price by the change in quantity.

True
False

2. When the underlying determinants of the demand change, there is the movement along with the demand curve, ceteris paribus.

True
False

3. An expected price change has similar effect on the demand as a change in current price.

True
False

4. When the price of apples reduces, the demand for pears (a substitute) also reduces.

True
False

5. As consumer eats more candy bars, for instance, the consumer's total satisfaction reduces, according to law of diminishing marginal utility.

True
False

Macroeconomics, Economics

  • Category:- Macroeconomics
  • Reference No.:- M914003

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