The price elasticity of demand can range between

Related MCQs

• 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
• If the price elasticity is between 0 and 1, demand is
• A good with a vertical demand curve has a demand with
• Other things being equal a decrease in demand can be caused by
• In case of normal goods, demand curve shows:
• Law of demand must fail in case of:
• Substitution effect takes place when price of the commodity becomes:
• Price effect is
• For a giffen good, when price falls