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Question 10 Not yet answered Marked out of 1.00 P Flag question Scarcity definition explains, O a. How to increase profit O b. How to manage unlimited wants when resources are limited O c. None of these O d. How to create wealth Question 11 Not yet answered Marked out of 1.00 P Flag question Which of the following is a Positive statement? O a. An increase in education fees will cause fewer students to apply to college b. The government must lower the price of a pizza so that more students can afford to buy it O c. My microeconomics class should last for two terms because it is my favourite class O d. None of these Question 12 Not yet answered Marked out of 1.00 P Flag question When the price elasticity of demand for a good equals: O a. 1, the demand curve is vertical. O b. 1, the demand curve is horizontal. c. O, the demand curve is horizontal. O d. O, the demand curve is vertical