The horizontal demand curve for a commodity shows that its demand is:

Related MCQs

• A fall in the price of a commodity whose demand curve is a rectangular hyperbola causes total expenditure on the commodity to:
• A demand curve which takes the form of horizontal line parallel to quantity axis illustrates elasticity which 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
• Demand for a commodity is elastic when it has:
• The relationship between demand for a commodity and price, ceteris paribus, is:
• Demand curve slopes downwards because of
• An exceptional demand curve is one that slopes
• When the demand curve is a rectangular hyperbola, it represents:
• Consider a demand curve which takes the form of a straight line cutting both axes. Elasticity at the mid-point of the line would be: