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Demand for a commodity is elastic when it has

A. Only one use

B. Many uses

C. Uses which cannot be postponed

D. Uses very essential for the consumer

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

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  1. Selling costs are incurred under monopolistic competition to:
  2. Economies of large-scale production:
  3. Which is not an essential feature of a socialist economy?
  4. In the case of substitutes, the cross demand curve slopes
  5. Of the following, which one corresponds to fixed cost?
  6. In real life, brand loyalty is a barrier to:
  7. Monopoly means:
  8. In joint-profit maximization cartel, central agency sets the:
  9. According to Saint Thomas Aquinas value is determined by God, but prices by:
  10. The marshallian demand curve includes:
  11. The expansion point is attained by joining:
  12. The coefficient of the price elasticity of demand is computed as the absolute value of the percentage…
  13. By saying that monopolist create a contrived scarcity, economist mean that monopolist:
  14. A price is a ratio of exchange between:
  15. Equilibrium of a firm represents maximization of profits as well as:
  16. Which is the first-order condition for the profit of a firm to be maximum?
  17. A market demand schedule is obtained by adding individual demand schedules:
  18. In Prisoners Dillemma, the players are:
  19. The basic subject matter of economics is:
  20. In the short-run, the competitive firm can maximize its profits (or minimize its losses) by:
  21. At high prices, demand is likely to be:
  22. The market demand shedule is determined by:
  23. Marginal utility equals:
  24. Marginal cost is the cost:
  25. In long run, a firm can change:
  26. Pure monopoly exists:
  27. In economist the term invisible hand is refers to:
  28. In sweezy model (kinked demand curve model), the overall increase in costs of production:
  29. Price discrimination is undertaken with the aim of:
  30. Who is the founder of classical school of thought?