For necessary goods, the income elasticity of demand

Related MCQs

• A negative income elasticity of demand for a commodity indicates that as income falls, the amount of the commodity purchased
• Income elasticity of demand for inferior goods is
• In the case of luxury goods, the income elasticity of demand will be
• When demand curve is rectangular hyperbola, the value of price elasticity of demand will be
• If the income elasticity of demand is greater than one, then the commodity is
• If the income elasticity of demand for a commodity is found to be 0.4, then the commodity concerned is
• When an individual’s income falls, when everything else remains the same, his demand for inferior goods
• If the quantity demanded remains unchanged as the price of the commodity falls, the coefficient of price elasticity of demand is
• Cross elasticity of demand in the case of substitutes
• On a linear demand curve, the coefficient of price elasticity is unity, then the value of MR will be