When the price of complementary products falls, the demand of the other product will

Related MCQs

• When the price of complementary products increases, the demand of the other product will
• Tea and Coffee are perfect substitute of each other, given the price of Tea and Coffee being `100 and `200 per Kg. a consumer is prepared to buy 3 Kg. of each. If the price of tea remain same and the price of Coffee rises to `400 per kg. the demand for Tea goes to 6 Kg. and that of Coffee falls to 1Kg. The elasticity of substitution between Tea and Coffee is
• If the price of coffee falls by 8% and the demand for Tea declines by 2%. The corss price elasticity of demand for Tea is
• The demand for a product is 25 units when the price is `10, however the demand rises to 26 when the price is reduced to `9.9 per unit. The marginal revenue from production and sale of additional unit from 25 to 26 is
• If the question No. 286 despite reduction in price to `9.9 the demand for the product remains at 25 units we can say that the demand for the product is
• The individual demand and supply curve of a product are Dx = 12-2px, Sx=3+5px, where Px stand for price and Dx and Sc respectively stands for quantity demanded and quantity supplie(d) If there are 5000 consumers and 1000 suppliers for the product under question. What will be the equilibrium price
• If the cross price elasticity of demand for two product is negative, then the two products are ……………….
• If the price elasticity of demand for wine is estimated to be -.6, then a 20% increase in price of wine will lead to ………………….in quantity demanded of wine at that price
• If the price elasticity of demand of Chicken is +.95. then a 20% increase in price of chicken will lead to in quantity demanded of chicken at that price
• Which of the following techniques uses variables such as price and promotional expenditures, which are related to product demand, to predict demand?