- Less than unity
- Unity
- Zero
- Greater than Unity
Answer: Option 2 When demand is perfectly inelastic, an increase in price will result in an increase in total revenue.
1 Answers 1 viewsAnswer: Option 3 When cross elasticity of demand is a large positive number, one can conclude that the good is complement. Two goods that complement each other have a negative...
1 Answers 1 viewsAnswer: Option 3 The coefficient of price-elasticity of demand is smaller than one when the percentage increase in the quantity of a commodity demanded is smaller than the percentage fall...
1 Answers 2 viewsAnswer: Option 2 When price elasticity of demand for normal goods is calculated, the value is always Negative. The PED is the percentage change in quantity demanded in response to...
1 Answers 1 viewsAnswer: Option 4 If elasticity of demand is very low, it shows that the commodity is necessity and has little importance in total budget.
1 Answers 1 viewsAnswer: Option 3 Neutrality principle borrows from a stirring maxim often attributed to Voltaire: “I disapprove of what you say, but I will defend to the death your right to...
1 Answers 1 viewsAnswer: Option 3 The price elasticity of demand measures the responsiveness of the quantity demanded to changes in the price. Demand is inelastic if it does not respond much to...
1 Answers 1 viewsAnswer: Option 3 In the given statement and I, the common word is 'good' and the common code word is 'co'. So, 'co' is the code for 'good'. In the given...
1 Answers 3 viewsAnswer: Option 2 Indian economy is in a poor shape basically due to improper mobilisation of man-power.
1 Answers 13 views