If the income elasticity of demand is greater than one, then the commodity is:

Related MCQs

• If the income elasticity of demand for a commodity is found to be 0.4, then the commodity concerned is:
• If the amount of the commodity purchased remains unchanged when the price of another commodity changes, the cross elasticity of demand between them will be:
• Relation between price of a commodity and demand for another commodity is measured by:
• If the quantity demanded remains unchanged as the price of the commodity falls, the coefficient of price elasticity of demand is:
• A firm produces 200 units of commodity X by employing 10 workers and 240 units of the same commodity by employing 12 workers. Then the Average Product of the worker is --------
• In a horizontal straight line demand curve, the price elasticity of demand is:
• Income elasticity of demand for inferior good is:
• In the case of luxury goods, the income elasticity of demand will be:
• From the position of stable equilibrium, the market supply of a commodity decreases, while the market demand remains unchanged, then:
• If the supply curve of the commodity is having a positive slope, a rise in the price of the commodity, results in: