The price elasticity of demand is a negative number this means ? – McqOptions

MCQOPTIONS

1.	The price elasticity of demand is a negative number this means ?
A.	Demand is price elastic
B.	Demand is price inelastic
C.	The demand curve is downward sloping
D.	An increase in income will reduce the quantity demanded
Answer» D. An increase in income will reduce the quantity demanded

Discussion

No Comment Found

Related MCQs

<p> Market equilibrium exists when _________ at the prevailing price?</p>
<p> If a 4% increase in price leads to a increase in the quantity supplied of 8% ?</p>
<p> If the quantity demanded of beef increases by 5% when the price of chicken increase by 20% the cross-price elasticity of demand between beef and chicken is ?</p>
<p> Increased level consumption ?</p>
<p> Marginal revenue is the ________ when output is __________?</p>
<p> A measurement showing how quantity demanded varies with income is the ?</p>
<p> A firm that makes profit in addition to normal profit is making ?</p>
<p> An upward shift in marginal cost _____ output and an upward shift in marginal revenue ______ output?</p>
<p> The opportunity cost of a student is____________?</p>
<p> Firms are assumed to ________ costs and to ________ profits?</p>