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QI Cheese the correct answer A/B/C/D by filling the relevant bubble for each question on the OMK Answer Sheet according to the instructions given there. Each part earries one mark 1) Which of the following statement is related to positive science A. Rich people should he taxed In order to reduce poverty, Rovt should mise income level of the poor Agricultural sector is the largest sector of Pakistan's economy D. Nestle ought to reduce the price of Millal to attract customers 2) Lack of resources in relation to demand is called A Supply Demand CScarcity D. Desire 3) The utility which is derived from consumption of an additional unit of a good is called A Total utility B. Marginal utility C. Average utility D. Nepative utility 4) Toual utility reaches its maximum when A Marginal utility equals total utility B. Marginal utility is positive C Marginal utility is zero D. Marginal utility is negative 3) The willingness and ability of a buyer to purchase a good is called A Supply B. Demand C. Scarcity D. Desire 4) Given the equation -- 10 - 2. the slope of the equation is A-10 0.2 C-8 D).-12 7) Which of the following is a demand equation AC--10-2P 8.0=10+2P CO-P-10 D.Q+2/- 10 8) In a function, a variable whose value is determined by the values of another variable is called A. Continuous variable B. Discontinuous variable C. Dependent variable D Independent variable 9) Which of the following would not shift the demand curve of a good? A. Chan ini. ...
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Just what I was looking for! Super helpful.