Demand for a commodity is elastic when it has:

Related MCQs

• A fall in the price of a commodity whose demand curve is a rectangular hyperbola causes total expenditure on the commodity to:
• The horizontal demand curve for a commodity shows that its demand is:
• The relationship between demand for a commodity and price, ceteris paribus, is:
• 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
• A fall in the price of a commodity leads to
• The utility of a commodity is:
• Unemployment caused by a decline in demand for production in a particular industry is
• If the income elasticity of demand is that one, the good is a
• The income elasticity of demand is negative for a