______ function expresses the relationship between price of the good and quantity of the good demanded.

Related MCQs

• At a price of Rs11.00, quantity demanded is 90; and at a price of Rs.9.00, quantity demanded is 110. The price elasticity of demand is:
• ______ function expresses the relationship between price of the good and quantity of the good supplied.
• Demand function for a commodity is D = 44 – 7P and supply function S = 2P –10, then the equilibrium price is:
• _______ function was designed by J M Keynes to show the relationship between real disposable income and consumer spending.
• If the demand facing a monopolist is P = 100 − 10Q and marginal cost is constant at 20, then the profit maximizing price and quantity for this monopolist are:
• In linear programming, _____ expresses the necessity that the levels of production of the commodity cannot be negative, that is, it should be either positive or zero.
• The Price elasticity of demand for a product is 1.5 and its MR = 8, find its price:
• A perfectly competitive firm should reduce output or shut down in the short run if market price is equal to marginal cost and price is:
• Keynes postulated ----- relationship between income and consumption
• When we optimise a function, with the first order derivative equal to ___ and the second order derivative ___ the function is at a relative minimum.