If the percentage increase in quantity of a commodity demanded is its price, the coefficient of price elasticity of demand is:

Related MCQs

• 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 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:
• A demand curve which takes the form of horizontal line parallel to quantity axis illustrates elasticity which is:
• The quantity demanded of a product increases when
• The relationship between demand for a commodity and price, ceteris paribus, is:
• Demand for a commodity is elastic when it has:
• If the income elasticity of demand is that one, the good is a
• The income elasticity of demand is negative for a
• 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: