The price elasticity of demand is defined as

Related MCQs

• If the income elasticity of demand for a good is negative, it must be:
• If the cross-price elasticity between two goods is negative, the two goods are likely to be:
• The law of demand states that an increase in the price of a good:
• If a small percentage increase in the price of a good greatly reduces the quantity demanded for that good, the demand for that good is
• Which of the following would cause a demand curve for a good to be price inelastic?
• A consumer is in equilibrium and is spending income in such a way that the marginal utility of product X is 40 units and Y is 16 units. The unit price of X is Rs.5. The price of Y is:
• A significant property of Cobb Douglas production function is that the elasticity of substitution between inputs is
• If an increase in consumer incomes leads to a decrease in the demand for camping equipment, then camping equipment is:
• Which of the following shifts the demand for watches to the right?
• In general, a flatter demand curve is more likely to be: