In the case of normal goods, the quantity demanded varies inversely with:

Related MCQs

• In the case of perfect complementaries, the MRS between goods is:
• In the case of luxury goods, the income elasticity of demand will be:
• The Price and quantity relationship for an inferior good is:
• Supply curve represents -------- relationship between quantity and price
• If a positively sloped linear supply curve crosses the quantity axis, the elasticity of supply is:
• The horizontal supply curve parallel to quantity axis represents:
• Change in quantity supplied of a product can result from:
• For complementary goods, the cross elasticity of demand:
• The demand curve for Giffen’s goods:
• Income elasticity of demand for inferior goods is: