When price of a product falls, more of it is purchased because of

Related MCQs

• 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:
• When both average and total product are greater than zero, and marginal product equals average product, then total product:
• If labour is the only variable resource and its marginal physical product falls as more workers are hired:
• If the amount of the commodity purchased remains unchanged when the price of another commodity changes, the cross elasticity of demand between them will be:
• For a giffen good, when price falls
• When the price of the substitute commodity of X falls, the demand for X:
• The total product curve may initially show output increasing at an increasing rate as more labour is hired because of the:
• When both the price of a substitute and the price of complement of X rises, the demand for X:
• If the percentage increase in the quantity demanded of a commodity is smaller than the percentage fall in its price, the coefficient of price elasticity: