At a point where a straight line demand curve meets the price axis (Y-axis), the elasticity of demand is:

A. Equal to one

B. Less than one

C. Equal to zero

D. Equal to infinite

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  13. According to critics, the assumption of costless production is:
  14. Supply of a commodity refers to:
  15. When total product falls:
  16. If the commodity is inferior then the increase in income of the consumer results in:
  17. Neutral Technological Progress can be defined as:
  18. In monopoly, new firms:
  19. Short run cost curves are influenced by:
  20. Which of the following is assumed to be constant when drawing a demand curve?
  21. In monopoly:
  22. The demand curve of a firm in monopolistic competition is:
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  25. Money spent by a firm on the purchase of capital equipment is:
  26. In monopolistic competition, the customers are attached with one product because of:
  27. Demand is elastic when the coefficient of elasticity is:
  28. The firm in cournot model:
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  30. The proportional demand curve in monopolistic competition (also in kinked demand curve model), is like…