A fall in the price of a commodity leads to

Related MCQs

• A fall in the price of a commodity whose demand curve is a rectangular hyperbola causes total expenditure on the commodity to:
• If the percentage increase in quantity of a commodity demanded is its price, the coefficient of price elasticity of demand is:
• If the quantity of a commodity demanded remains unchanged as its price changes, the coefficient of price elasticity of demand is
• The relationship between demand for a commodity and price, ceteris paribus, is:
• If the income and substitution effect of a price increase works in the same direction the good whose price has changed is a
• Demand for a commodity is elastic when it has:
• The horizontal demand curve for a commodity shows that its demand is:
• The utility of a commodity is:
• Globalization by connecting countries leads to
• Suppose that the MPC out of disposable income was 0.8 and the tax function for a given economy was T= -30+0.25Y. an increase in the intercept of the tax function of 10 units(from -30 to -20 would cause equilibrium income in the simple Keynesian model to fall by