A fall in income of the consumer, other things being equal, causes

Related MCQs

• A fall in the price of the commodity whose demand curve is a rectangular hyperbola causes total expenditure on the commodity
• Other things remaining the same, the quantity of a product demanded increases with ------------ in price
• A negative income elasticity of demand for a commodity indicates that as income falls, the amount of the commodity purchased
• A fall in the price of the commodity holding everything else constant results in
• As a result of a fall in the price total expenditure on the commodity decreases, the coefficient of elasticity will be
• An increase in the price of the commodity when demand is inelastic causes the total expenditure of consumers of the commodity to
• Consumers are denied of any consumer surplus in ------- degree of price discrimination
• For necessary goods, the income elasticity of demand
• Income elasticity of demand for inferior goods is
• In the case of luxury goods, the income elasticity of demand will be