What is the correct answer?


When there is decrease in demand the demand curve:

A. Moves (shifts) towards the axis

B. Moves (shifts) away from the axis

C. Remains unchanged

D. All of the above

Correct Answer :

A. Moves (shifts) towards the axis

Related Questions

Repetition of a game (Repeated Game): We can measure consumers surplus with the help of The demand curve slopes downwards due to: In cournot model, at equuilibrium when MC = MR, the elasticity of demand… Which of the following is not a property of indifference curve? In substitution effect, we: A maximin strategy: If the production function is homogeneous, the expansion path will be… According to Marshallian approach, utility: In the case where two commodities are good substitutes then cross elasticity… 4.The Law of Diminishing Returns according to the modern view, applies… The necessary condition of firms equilibrium requires: In second degree price discrimination, monopolist takes away : If two goods have same marginal utility for a consumer then: The monopolist who is producing the same output from two (or more than… Marginal cost curve cuts the average cost curve: If the marginal utility is divided by the price of the commodity then… The cost that a firm incurs in purchasing or hiring any factor of production… Law of Diminishing Marginal Utility is practically untrue because: Which of the following goods is most likely to be exchanged in a market… The behavior of MC curve is determined by the behavior of the: Elasticity of supply means change in supply due to change in: If two goods are perfect substitutes then IC will be: Excess capacity is not found under: In general, most of the production functions measure: In Revealed Preference Theory, Samuelson proves P.E = S.E + I.E : The main contribution of Prof. Lord Keynes is in the field of: Social costs equal private costs when: Which of the following has more elastic demand curve? An inferior commodity is one whose quantity demand decreases when income…