The elasticity of demand for a product will be higher:

Related MCQs

• If the income elasticity of demand is that one, the good is a
• The income elasticity of demand is negative for a
• A demand curve which takes the form of horizontal line parallel to quantity axis illustrates elasticity which is:
• 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:
• Cross elasticity of demand between tea and sugar 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
• Unitary elasticity of demand is:
• The horizontal demand curve for a commodity shows that its demand is:
• The higher the marginal income tax rate, the