When a very insignificant change in price leads to an infinite change in quantity demanded, it is called as-
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Question 2 of 25
2. Question
1 points
Category: Business Economics
Quantity demanded does not change with change in price at all, it is called as-
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Question 3 of 25
3. Question
1 points
Category: Business Economics
When a small change in price causes a greater change in quantity demanded it is called as____
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Question 4 of 25
4. Question
1 points
Category: Business Economics
Where a greater change in price leads to smaller change in quantity demanded, it is called as ____
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Question 5 of 25
5. Question
1 points
Category: Business Economics
When a change in price results in exactly the same percentage change in the quantity demanded of a commodity, it is called as-
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Question 6 of 25
6. Question
1 points
Category: Business Economics
Suppose the demand for meals at a medium-priced restaurant is elastic. If the management of the restaurant is considering raising prices, it can expect a relatively _____
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Question 7 of 25
7. Question
1 points
Category: Business Economics
In the case of a straight line demand curve meeting the two axes, the price-elasticity of demand at the mid-point of the line would be ____
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Question 8 of 25
8. Question
1 points
Category: Business Economics
Identify the coefficient of price-elasticity of demand when the percentage increase in the quantity of a good demanded is smaller than the percentage fall in its price ____
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Question 9 of 25
9. Question
1 points
Category: Business Economics
Point elasticity is useful for which of the following situations?
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Question 10 of 25
10. Question
1 points
Category: Business Economics
Price elasticity of demand can be measured through ____
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Question 11 of 25
11. Question
1 points
Category: Business Economics
According to percentage method or arithmetic method of elasticity of demand, If the percentage change in quantity demanded is greater than the percentage change in price, the elasticity will be ___
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Question 12 of 25
12. Question
1 points
Category: Business Economics
According to percentage method or arithmetic method of elasticity of demand, If the percentage change in quantity demanded is less than the percentage change in price, the elasticity is said to be ___
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Question 13 of 25
13. Question
1 points
Category: Business Economics
According to percentage method or arithmetic method of elasticity of demand, If the percentage change of both quantity demanded price is same, elasticity of demand is said to be ___
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Question 14 of 25
14. Question
1 points
Category: Business Economics
Total expenditure method of elasticity of demand was formulated by-
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Question 15 of 25
15. Question
1 points
Category: Business Economics
According to total expenditure method of elasticity of demand, if it is found that total expenditure remains the same, elasticity of demand is said to be-
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Question 16 of 25
16. Question
1 points
Category: Business Economics
According to total expenditure method of elasticity of demand, if the total expenditure increases due to increase in price the elasticity of demand is said to be ___
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Question 17 of 25
17. Question
1 points
Category: Business Economics
According to total expenditure method of elasticity of demand, if the total expenditure diminished with the decrease in price, the elasticity of demand is said to be ___
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Question 18 of 25
18. Question
1 points
Category: Business Economics
Given the following four possibilities, which one results in an increase in total consumer expenditures?
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Question 19 of 25
19. Question
1 points
Category: Business Economics
According ______, elasticity of demand is measured on different points on a straight line demand curve.
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Question 20 of 25
20. Question
1 points
Category: Business Economics
According to graphic or point method of elasticity of demand, at mid point on a straight-line demand curve, elasticity will be equal to —
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Question 21 of 25
21. Question
1 points
Category: Business Economics
According to graphic or point method of elasticity of demand, at higher points on a straight-line demand curve, but to the left of the mid-point, elasticity will be –
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Question 22 of 25
22. Question
1 points
Category: Business Economics
According to graphic or point method of elasticity of demand, at lower point on a straight-line demand curve, but to the right of the mid point, elasticity will be ___
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Question 23 of 25
23. Question
1 points
Category: Business Economics
According to graphic or point method of elasticity of demand, the price elasticity of demand at a point on a straight-line is equal to _______of the demand curve.
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Question 24 of 25
24. Question
1 points
Category: Business Economics
A vertical supply curve parallel to Y-axis implies that the elasticity of supply is: ……
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Question 25 of 25
25. Question
1 points
Category: Business Economics
A horizontal supply curve parallel to quantity axis implies that the elasticity of supply is: ……
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