Start learning →

Match fixed output: 1. Fixed: p. Set scale 2. Price: q. Fixed qty 3. Output: r. Constant

A1-p, 2-q, 3-r
B1-p, 2-r, 3-q
C1-q, 2-p, 3-r
D1-r, 2-p, 3-q
Answer & Solution
Correct answer: A. 1-p, 2-q, 3-r
When commodities are produced in fixed amounts dictated by equipment setups, price increases do not expand quantity.
Practise this question with Quill — ICSE Class 10 →

Keep practising Markets and Theory of Supply

Browse all Markets and Theory of Supply questions for ICSE Class 10, or explore more Economics topics.

Start a Markets and Theory of Supply lesson →