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At high prices, demand is likely to be:

A. More elastic

B. Less elastic

C. Unit elastic

D. Perfectly inelastic

Please do not use chat terms. Example: avoid using "grt" instead of "great".

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  1. For a commodity giving large consumers surplus, the demand will be:
  2. In the immediate run:
  3. In constant sum game (zero sum game), if there are two parties then:
  4. The law of demand is most directly a result of:
  5. If the price of Pepsi Cola goes down, you would predict:
  6. Law of Diminishing Marginal Utility is practically untrue because:
  7. Supply of a commodity refers to:
  8. If a consumer buys a product that costs Rs.3 and provides an additional 18 units of satisfaction, then…
  9. All the firms with identical costs under perfect competition well, in the long-run, earn only:
  10. According to translog production function, elasticity of substitution is:
  11. On a straight line demand curve, elasticity of demand at the midpoint is:
  12. If the marginal utility of apples to a consumer exceeds that of bananas then the consumer:
  13. At final equilibrium in cournot model, each firm sells:
  14. In Edgeworth model, prices oscillate between:
  15. The demand of the luxuries is:
  16. In Revealed Preference Theory, a consumer reveals preference for bundle of:
  17. In the short-run, the competitive firm can maximize its profits (or minimize its losses) by:
  18. Who wrote A Contribution to the Theory of Trade Cycle?
  19. Cross-elasticity of demand is measured as:
  20. If two households have identical preferences but different incomes then:
  21. At a point below the middle of a straight line demand curve, elasticity of demand is:
  22. When the consumer is in equilibrium not only his income is fully spent, but the ratio of marginal utility…
  23. If as a result of an increase in prices, total outlay (expenditures) on a commodity decreases, its price-elasticity…
  24. The word ECONOMICS is derived from the Greek terms meanings:
  25. When marginal costs curve cuts average costs curve, average costs are:
  26. In the real world, some competitive firms owns specialized resources that earn a return called:
  27. Other things remaining the same, when a consumers income increases his equilibrium point moves to:
  28. The Law of Equi-Marginal Utility states:
  29. 7.The costs which the firms have to face in order to change the price tags of their products and services…
  30. The slope of marshallian demand curve is: