If as a result of a decrease in price, total outlay (expenditures) on a commodity increases, its price-elasticity of demand is:

A. Perfectly elastic (infinitely elastic)

B. Relatively elastic (greater than one elasticity)

C. Unit elastic

D. Relatively inelastic (less than one elasticity)

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

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  1. General Equilibrium deals with the equilibrium of the:
  2. The reaction curve of a firm is attained by joining the:
  3. The situation of single buyer and single seller is called:
  4. Which one of the following is also known as Plant Curves:
  5. The isoquant approach is:
  6. Normally when price per unit of time falls:
  7. The number of sellers in oligopoly are:
  8. The game theory concentrates on:
  9. Which industries spend a relatively large share of their revenue on research and development in order…
  10. If the price of a product falls which of the following would occur?
  11. With the change in the factor prices, the slope of the expansion path will:
  12. By increasing the price of its products above those of its competitors, a perfectly competitive seller:
  13. Who wrote Economics of Imperfect Competition?
  14. A firm can never produce in the middle area of input space, in case of:
  15. Which of the following formulae explain the term average revenue?
  16. In monopolistic competition, the firm take advantage due to customers:
  17. An indifferent curve shows:
  18. If two goods have same marginal utility for a consumer then:
  19. For the given production function, technical inefficiency is defined as:
  20. Which of the following curves is a rectangular hyperbola?
  21. The difference between average total cost and average fixed cost shows:
  22. Increase in demand occurs when:
  23. Price effect occurs on the higher IC in case of:
  24. Because the price elasticity of demand for OPEC oil is approximately .08, in order to increase revenues…
  25. Loanable funds theory of Interest was developed by:
  26. Average cost curve contains in it:
  27. In dominant price leadership model, the small firms are like:
  28. The budget-line is also known as the:
  29. The name of the system of direct exchange is:
  30. A high value of cross-elasticity indicates that the two commodities are: