If the income and substitution effect of a price increase works in the same direction the good whose price has changed is a

Related MCQs

• An increase in income may lead to an increase in the quantity demanded, it is
• What effect is working when the price of a good falls and consumers tend to buy it insteadof other goods
• The effect on sales of an increase in price is a decrease in:
• When an individual’s income falls (while everything else remains the same), his demand for an inferior good:
• If the percentage increase in quantity of a commodity demanded is its price, the coefficient of price elasticity of demand is:
• If the income elasticity of demand is that one, the good is a
• A fall in the price of a commodity whose demand curve is a rectangular hyperbola causes total expenditure on the commodity to:
• When the demand changes due to changes in other factors, like taste and preferences, income, price of related goods etc... , it is called
• ………….. is the change in total revenue irrespective of changes in price or due to the effect of managerial decision on revenue
• …………… is the degree of responsiveness of supply to changes in the price of a good