What is the correct answer?


If the commodity is normal then fall in price will result in:

A. Increase the quantity demanded

B. Fixed the quantity demanded

C. Decrease the quantity demanded

D. None of the above

Correct Answer :

A. Increase the quantity demanded

Related Questions

Traditionally, the study of determination of price is called: Rational economic behavior on the part of the consumer means that he will: The low cost price leader will charge: By reducing the prices of its products below those of its competitors,… Cross-elasticity of demand or cross-price elasticity between two perfect… The average cost curve is a geometrical illustration of: Market allocation fundamentally relies upon: Under Bandwagon effects, people use those goods which are used by their: In cournot model, at equuilibrium when MC = MR, the elasticity of demand… Some economists refer to iso-product curves as: The alternative of profit maximization theory is: In dominant price leadership model, the small firms are like: Labor Saving Technological Progress can be defined as: Abstinence or Waiting theory of Interest was presented by: In non-constant sum game (non-zero sum game), if there are two parties… Change in demand refers to: Monopolistic firm can fix: In real life, brand loyalty is a barrier to: Least cost combination of two factor inputs is achieved at a point where: At a point above the middle of a straight line demand curve, elasticity… Under perfect competition, a firm will be in equilibrium if: If a straight line supply curve passes through the point of origin O,… If the factors have to be employed in a fixed ratio, then the elasticity… The behavior of MC curve is determined by the behavior of the: In monopolistic competition, the firms have to face: For the given production function, technical efficiency is defined as: Suppose income increases by 10% and demand for commodity increases by… The non-price competition cartel is a: If the demand for good is more elastic and government levied a tax per… When the slope of a demand curve is zero (also known as vertical demand…