An increase in the price of the commodity when demand is inelastic causes the total expenditure of consumers of the commodity to

Related MCQs

• A fall in the price of the commodity whose demand curve is a rectangular hyperbola causes total expenditure on the commodity
• As a result of a fall in the price total expenditure on the commodity decreases, the coefficient of elasticity will be
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• If the quantity demanded remains unchanged as the price of the commodity falls, the coefficient of price elasticity of demand is
• A negative income elasticity of demand for a commodity indicates that as income falls, the amount of the commodity purchased
• If the income elasticity of demand for a commodity is found to be 0.4, then the commodity concerned is
• When the price of the substitute commodity of X falls, the demand for X
• Which of the following results in an increase in an increase in demand
• When demand curve is rectangular hyperbola, the value of price elasticity of demand will be
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