The demand of the luxuries is:

A. More elastic

B. Less elastic

C. Unit elastic

D. Zero elastic

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

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  1. The central problem of economics is:
  2. All money costs can be regarded as:
  3. Each short run average cost curve:
  4. Compared to perfect competition, a monopolist will charge:
  5. If by doubling all inputs in the long run output is less than double, it is a case of:
  6. When income of the consumer increases then demand curve of an inferior good:
  7. Indifference curves reflect:
  8. The spending of money by the producer to influence consumers is an example of:
  9. According to Diamond Water Paradox diamonds are more expensive than water because:
  10. When at a given price, the quantity demanded of a commodity is more than the quantity supplied, there…
  11. Marginal utility is only meant for:
  12. If X and Y are close substitutes, a rise in the price of X will lead to:
  13. The non-price competition cartel is a:
  14. An inferior good/ commodity is inferior for:
  15. The equilibrium level of output for the pure monopolist is where:
  16. From the resource allocation view point, perfect competition is preferable because:
  17. A firm under perfect competition has:
  18. Robbins definition of economics was criticised by:
  19. Utility means:
  20. Which of the following is called Gossens first law?
  21. The point where the supply and demand curves intersect on a graph determines:
  22. If the price of Pepsi Cola goes down, you would predict:
  23. The Prisoners Dilemma was presented by A.W.Tucker in:
  24. All of the following are capital resources except:
  25. Which of the following curves is a rectangular hyperbola?
  26. At final equilibrium in cournot model, each firm sells:
  27. In monopoly:
  28. The proportionality rule in production requires that the ratios of MP and factor prices are:
  29. If there are many producers, each of whom has an individual production possibility curve, then the lowest…
  30. An income demand curve of an inferior good is: