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The greater the percentage of income spent on a commodity:

A. The greater its elasticity is likely to be

B. The weaker its elasticity is likely to be

C. The unchanged its elasticity is likely to be

D. None of the above

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

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  1. Indifference curves are downward sloping and are drawn bowed toward the origin (convex to the origin)…
  2. Change in demand (rise and fall of demand) is:
  3. The long-run average cost is based on the fact that:
  4. According to law of Equi-Marginal Utility when price of commodity falls then we bought:
  5. From analysis, it is clear that both Marshal and Walras market models are:
  6. An economic theory is :
  7. Increasing returns imply:
  8. Karl Marx:
  9. Demand for a commodity is elastic when it has
  10. The equilibrium of a firm is determined by the equality of MC and MR in only:
  11. The right of individuals to control productive resources is known as:
  12. If a firm is producing output at a point where diminishing returns have set in, this means that:
  13. Most of the supply curves with which the average consumer deals are:
  14. When the consumer is in equilibrium not only his income is fully spent, but the ratio of marginal utility…
  15. Who is the author of Trade Cycle ?
  16. The general form of Cobb-Douglas production function is:
  17. The largest possible loss that a firm will make in the short run is:
  18. The expansion point is attained by joining:
  19. Which of the following curves is a rectangular hyperbola?
  20. Price elasticity of demand can be measured in the following way:
  21. In Revealed Preference Theory, a consumer reveals preference for bundle of:
  22. Which of the following is not a property of indifference curve?
  23. If a straight line supply curve makes an intercept on the Y-axis, elasticity of supply is:
  24. A market demand curve presumes that:
  25. The demand curve of ostentation goods (Veblen goods) will be:
  26. In monopolistic competition, because of difference in choices, the firm charges:
  27. The monopolist often lead to exploitation of:
  28. Micro economics is concerned with:
  29. The production possibility curve (PPC) is concerned with:
  30. Monopolistic firm can fix: