What is the correct answer?


If regardless of changes in its price, the quantity demanded of a commodity remains unchanged, then the demand curve for the commodity will be:

A. Horizontal

B. Vertical

C. Positively sloped

D. Negatively sloped

Correct Answer :

B. Vertical

Related Questions

If the supply and demand increases equally, the price will: The market demand shedule is determined by: The elasticity of demand is equal to slope of demand function divided… Supply and demand changes have their most rapid impact in: In monopolistic competition, if a firm lowers its price, the rival firms… Which form of market structure is characterized by interdependence in… The general markets results from the imposition of price ceilings has… The cost of one thing in terms of the alternative given up is known as: Capital and Development Planning is the work of: Average cost means: After reaching the saturation point consumption of additional units of… The pay-off matrix shows: The demand curve of a firm in monopolistic competition is: Contraction in demand occurs when: The maximization of output subject to cost requires equilibrium at the: In real life firms: Total Utility (TU) curve: The critics of Sweezy model say that kink generates: The kinked demand curve comes into being where: Which describes a competitive market? Marshalls definition of economics was strongly criticised by: When elasticity of demand is greater than one (e >1), then following the… The long-run AC curve is constructed from: Demand is consumers: Contracts made by firms in cooperative games are: According to Marginalists, the price of any commodity is determined by: Under the law of variable proportions, the average and the marginal product… In case of economic bads, an IC can be : Elasticity (E) expressed by the term, 8 >E>1, is: Which of the following formulae explain the term average revenue?