Started on Tuesday, 9 May 2023, 9:20 AM
State Finished
Completed on Tuesday, 9 May 2023, 10:49 AM
Time taken 1 hour 29 mins
Marks 22.00/30.00
Grade 73.33 out of 100.00
Question 1
Complete
A change in the price of a good cause a shift of the budget line.
Mark 0.00 out of
1.00
Select one:
True
False
,Question 2
Complete
How does an increase in the price of cooking oil affects the budget line on a graph when cooking oil is on the y-axis?
Mark 1.00 out of
1.00
Dashboard Calendar
a. An increase will cause the rotation of the budget line and get more steeper.
b. An increase
Dashboard / Courses / UNISA / 2023 will cause the1 shift
/ Semester of the budet line
/ ECS2601-23-S1 and get more
/ Welcome steeper.
Message / Assessment 3
c. An increase will cause the entire budget line to shift and get flatter.
d. An increase will cause the budget line to rotate and get flatter.
Question 3
Complete
Mark 1.00 out of
Jonathan demand for marbles is given by the demand curve P=20-Q. If the marbles cost R10 each, how much consumer
1.00 surplus does Jonathan have?
a. Impossible to determine.
b. 50
c. 150
d. 100
, Question 4
Complete
Mark 1.00 out of
Suppose the price of flour, an ingredient used to make bread, increases. Which of the following is true regarding the price
1.00 and the quantity supply of bread.
Dashboard Calendar
a. There will be an increase in the price of bread and no change in the quantity supplied.
b.
There will be an increase in the price of bread and a decrease in the quantity supplied.
c. There will be no effect on the price of bread and quantity supplied.
d.
There will be an increase in the price of bread and an increase in the quantity supplied.
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