In the case of superior (normal) commodity, the income elasticity of demand is:

A. Positive

B. Unitary

C. Negative

D. Infinite

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

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  1. Increase in demand occurs when:
  2. The longer the period of time, the elasticity of supply will be:
  3. The situation of single buyer and single seller is called:
  4. Identify the work of T.W.Schultz:
  5. If a new production technology for producing compact discs is developed and new firms are attracted…
  6. In the short-run, the competitive firm can maximize its profits (or minimize its losses) by:
  7. When there is decrease in demand the demand curve:
  8. When the output of a firm is increasing, its average fixed cost:
  9. If there are many producers, each of whom has an individual production possibility curve, then the lowest…
  10. The cost that a firm incurs in purchasing or hiring any factor of production is referred to as:
  11. The ordinal approach was presented by:
  12. Money spent by a firm on the purchase of capital equipment is:
  13. Price discrimination occurs when:
  14. Law of Returns to Scale shows:
  15. The total revenue curve for monopolist is the shape of:
  16. Cournot equilibrium is attained where two reaction curves:
  17. In case of monopoly:
  18. In Prisoners Dillemma, the players are:
  19. In the long run average costs curve, a firm can change:
  20. If price exceeds AVC but in smaller than AC at the best level of output, the firm is:
  21. The effect of consumer boycotts usually is:
  22. In case of short-run, the supply curve of an industry is the horizontal summation of:
  23. Contracts made by firms in cooperative games are:
  24. The substitution effect works to encourage a consumer to purchase more of a product when the price of…
  25. The equilibrium conditions, MC = MR = AR = AC, will happen:
  26. Indifference curve represents:
  27. The difference between the average total cost and average variable cost as output increases will:
  28. Chamberline introduces the concept of:
  29. According to the principle of substitution?
  30. The production techniques are technically efficient: