Law of demand must fail in case of:

Related MCQs

• A good with a vertical demand curve has a demand with
• In case of normal goods, demand curve shows:
• Other things being equal a decrease in demand can be caused by
• Suppose a rise in the price of peaches from Rs.5.50 to Rs. 6.50 per bushel decreases the quantity demanded from 12,500 to 11,500 bushels. The price elasticity of demand is
• The price elasticity of demand can range between
• If the price elasticity is between 0 and 1, demand is
• Which of the following is called gossans first law
• In case of a convex indifference curve
• Marginal utility for money is positive in case of