As a result of a fall in the price total expenditure on the commodity decreases, the coefficient of elasticity will be

Related MCQs

• A fall in the price of the commodity whose demand curve is a rectangular hyperbola causes total expenditure on the commodity
• An increase in the price of the commodity when demand is inelastic causes the total expenditure of consumers of the commodity to
• 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
• Relation between price of a commodity and demand for another commodity is measured by
• A fall in the price of the commodity holding everything else constant results in
• On a linear demand curve, the coefficient of price elasticity is unity, then the value of MR will be
• If the income elasticity of demand is greater than one, then the commodity is
• When Q = f (P), the elasticity coefficient is measured by