Income elasticity is positive, but less than unity in the case of:

Related MCQs

• In the case of luxury goods, the income elasticity of demand will be:
• If the income elasticity of demand is greater than one, then the commodity is:
• Income elasticity of demand for inferior goods is:
• Cross elasticity of demand in the case of substitutes:
• Social science can help to appreciate the values enshrined in the Indian Constitution such as justice, liberty, equality and fraternity and the unity and integrity of the nation and the building of a socialist, secular and democratic society.
• For complementary goods, the cross elasticity of demand:
• When Q = f (P), the elasticity coefficient is measured by:
• If a positively sloped linear supply curve crosses the quantity axis, the elasticity of supply is:
• When demand curve is rectangular hyperbola, the value of price elasticity of demand will be:
• Commodities bought in larger quantities when income rises are called: