In the case of normal goods, the quantity demanded varies inversely with:

Related MCQs

• Other things remaining the same, the quantity of a product demanded increases with ----- in price.
• 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:
• If the quantity demanded remains unchanged as the price of the commodity falls, the coefficient of price elasticity of demand is
• If a small change in price leads to infinitely large change in quantity demanded, then the demand is:
• MEC is inversely related to:
• If both the products X & Y are normal goods
• When an individual’s income rises, when everything else remains the same, his demand for normal goods:
• Inferior goods are the goods with
• In the case of perfect complementaries, the MRS between goods is:
• In the case of luxury goods, the income elasticity of demand will be: