If the demand curve is inelastic then:

A. It may be nearly vertical

B. Quantity demanded is very sensitive to income

C. Demand is hardly affected by income

D. Close substitutes for the good are abundant

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

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  1. Utility is a function of:
  2. In case of monopoly, when total revenue is maximum:
  3. Each firm in cournot model assumes that its competitor will:
  4. Income effect operates through an increase
  5. If the price of Pepsi Cola goes down, you would predict:
  6. The difference between average cost and average revenue is:
  7. If the supply curve is not a straight line but curvilinear, the elasticity on all points of the supply…
  8. In the long-run competitive equilibrium, the theory predicts that:
  9. The Substitution Effect (S.E) is always:
  10. In case of monopoly, TR curve rises at a:
  11. Price discrimination occurs when:
  12. In modern theory, LAC = LMC after the attainment of:
  13. The number of sellers in oligopoly are:
  14. If two goods have same marginal utility for a consumer then:
  15. Normally when price per unit of time falls:
  16. An indifference curve normally slopes downward from:
  17. When AC curve falls, MC curve falls:
  18. By reducing the prices of its products below those of its competitors, a perfectly competitive seller:
  19. If the factors have to be employed in a fixed ratio, then the elasticity of substitution under Leontief…
  20. Moving along the indifference curve leaves the consumer:
  21. Other things remaining the same, when a consumers income increases his equilibrium point moves to:
  22. If production increases under increasing returns to scale, the cost will:
  23. The production function can convey to a firm:
  24. In Edgeworth model, if price falls below competitive price, the demand is:
  25. J.R.Hicks was:
  26. In the immediate run:
  27. The basic subject matter of economics is:
  28. If price exceeds AVC but in smaller than AC at the best level of output, the firm is:
  29. Demand for a commodity is elastic when it has
  30. Supply of a commodity refers to: