If the income elasticity of demand is that one, the good is a

Related MCQs

• The income elasticity of demand is negative for a
• When an individual’s income falls(while everything else remains the same), his demand for an inferior good:
• A demand curve which takes the form of horizontal line parallel to quantity axis illustrates elasticity which is:
• Consider a demand curve which takes the form of a straight line cutting both axes. Elasticity at the mid-point of the line would be:
• The elasticity of demand for a product will be higher:
• Cross elasticity of demand between tea and sugar is:
• If the percentage increase in quantity of a commodity demanded is its price, the coefficient of price elasticity of demand is:
• If the quantity of a commodity demanded remains unchanged as its price changes, the coefficient of price elasticity of demand is
• Unitary elasticity of demand is:
• The horizontal demand curve for a commodity shows that its demand is: