Question 7
Question 7 of 30
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No letter options?
Older MCQs might not have the typical A, B, C, D choices. They have choices 1, 2, 3, and a combination of them is the answer. Below is the key that maps such combinations to the answer.
A 1, 2 and 3 are correct
B 1 and 2 only are correct
C 2 and 3 only are correct
D 1 only is correct
Topics Tested
2. The price system and t...
2.2. Price elasticity, income elast...

variation in price elasticity of demand along the length of a straight-line demand curve

7. The price system and t...
7.2. Indifference curves and budget...

income, substitution and price effects for normal, inferior and Giffen goods