If the income elasticity of demand is that one, the good is a

Related MCQs

• The income elasticity of demand is negative for a
• Demand for tyres depends on demand of vehicles, the demand for tyres called as
• Demand for necessary goods (salt, rice, etc,) is……….and demand for comfort and luxury good is
• When an individual’s income falls (while everything else remains the same), his demand for an inferior good:
• In the case of perfect elasticity, the demand curve is
• A demand curve which takes the form of horizontal line parallel to quantity axis illustrates elasticity which is:
• Consider a demand curve which takes the form of a straight line cutting both axes. Elasticity at the mid-point of the line would be:
• The elasticity of demand for a product will be higher:
• Cross elasticity of demand between tea and sugar is:
• If the percentage increase in quantity of a commodity demanded is its price, the coefficient of price elasticity of demand is: