Home
PDF Download
Exams
G.K.
Aptitude
Reasoning
English
Computer
Biology
Privacy
About
Contact
Home
All MCQ
Exams
PDF Download
G.K.
Aptitude
Reasoning
English
Computer
Biology
Privacy
About
Contact
Join Our Socials
Telegram Group
Join Community
Twitter Group
Pinterest Group
Facebook Group
Subscribe YouTube
What is the correct answer?
4
Of the following commodities, which has the lowest price-elasticity of demand?
A.
Car
B.
Salt
C.
Tea
D.
House
Correct Answer :
B. Salt
Salt has lowest elasticity of demand (less elastic) b/c it is a necessity good.}
Related Questions
Under Bandwagon effects, people use those goods which are used by their:
Isocost line shows the combinations of labor and capital where a firms…
When at a given price, the quantity demanded of a commodity is more than…
The main contribution of Prof. Lord Keynes is in the field of:
At high prices, demand is likely to be:
Of the following, which one corresponds to fixed cost?
In the case of an inferior commodity, the income-elasticity of demand…
Marginal Productivity Theory deals with the theory of:
The number of sellers in oligopoly are:
The Purchasing Power Parity (PPP) Theory is presented by:
In substitution effect and income effect:
Which of the following is not a feature of isoproduct curves?
Ceteris paribus clause in the law of demand means:
If price exceeds AVC but in smaller than AC at the best level of output,…
The Law of Proportionality is another name of:
Total costs are:
The vertical distance between TVC and TC is equal to:
A monopoly producer has:
In case of complementary factors, the isoquants are:
Competitors in monopolistic competition have full control over:
A good tends to have relatively inelastic demand, if:
In the case of superior (normal) commodity, the income elasticity of demand…
The monopolist who is producing the same output from two (or more than…
Increasing returns imply:
Nash equilibrium is applicable in case of:
Identify the coefficient of price-elasticity of demand when the percentage…
If cross-elasticity of one commodity for another turns out to be zero,…
If the production increases under decreasing returns to scale, the cost…
The budget line is described by each of the following except:
Under conditions of perfect competition, price in the long-run is equal…
Also checkout
Relationship based problems MCQ
DBMS MCQ
Animal Kingdom MCQ
Hydraulics & Fluid Machineries MCQ
Auto CAD 2D MCQ
Radiologic Examination MCQ
Urology MCQ
Machine Input MCQ
SEO MCQ
Accounts Fundamental MCQ
Electricity Fundamentals MCQ
Current Affairs August 2023 MCQ