If price of Tea increases the demand of coffee will

Related MCQs

• 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
• If price of coffee falls leading to increase in total outlay on coffee, the demand of coffee is
• If demand of coffee increases by 10% with 20% decline in the price of sugar we can say that
• Tea and coffee are
• If price of sugar increase, the demand for tea will ………….
• The price of Ford automobiles increases and the price of Chevrolets remains constant, the demand for Chevrolets will
• 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 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