The price decrease from Rs 2,000 to Rs 1,800 Quantity demanded per yea – McqOptions

MCQOPTIONS

1.	The price decrease from Rs 2,000 to Rs 1,800 Quantity demanded per year increases 5000 to 6000 units. Which of the following is correct ?
A.	The price elasticity of demand is -2
B.	The good is inferior
C.	Income elasticity is + 0.5
D.	Income elasticity is + 2
Answer» B. The good is inferior

Discussion

No Comment Found

Related MCQs

Which of the following will NOT cause a shift in the demand curve for compact discs ?
Which of the following would increase aggregate demand ?
Which of the following would decease aggregate demand ?
Which of the following is consistent with the law of supply ?
Which best describes a supply curve ?
Which best describes a demand curve ?
When the market operates without interference, price increases will distribute what is available to those who are willing and able to pay the most. This process is known as ?
When the decrease in the price of one good causes the demand for another good to decrease, the goods are_________?
When excess demand occurs in an unregulated market, there is a tendency for ?
What effect is working when the price of a good falls and consumers tend to buy it instead of other goods ?