When elasticity of demand is 2, the demand will be:

Related MCQs

• The elasticity of demand for the demand curve of a firm under perfect competition is
• The Price elasticity of demand for a product is 1.5 and its MR = 8, find its price:
• 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:
• For complementary goods the cross elasticity of demand will be ______
• Necessities have _____ elasticity of demand of between 0 and +1.
• Football socks are found to have a cross-elasticity of demand of −2 with respect to product Y. Which of the following products is most likely to be product Y:
• The slope coefficient ,β2, of ............ model measures elasticity of Y with respect to X.
• In Cobb Douglas Production of functions, the elasticity of Substitutions is :
• Demand function for a commodity is D = 44 – 7P and supply function S = 2P –10, then the equilibrium price is:
• If your income doubles and the prices of the goods you buy double, then your demand for these goods will likely ________