A positive income elasticity may be

Related MCQs

• If the income elasticity of demand is that one, the good is a
• The income elasticity of demand is negative for a
• For the commodities like salt, sugar etc.,the income elasticity will be
• An increase in income may lead to an increase in the quantity demanded, it is
• Perfect elasticity is known as
• 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: