Demand for a commodity refers to:
In case of an inferior good, the income elasticity of demand is:
For what type of good does demand fall with a rise in income levels of households?
In case of Inferior goods like bajra, a fall in its price tends to:
Movement along the same demand curve shows:
The price of Hot-dogs increased by 22% and the quantity demanded falls by 25%this indicates that demand for hot dogs is:
Which factor generally keeps the price-elasticity of demand for a good low:
In case of straight line demand curve meeting of two axes, the price elasticity of demand at the mid-point of the line would be:
An increase in demand can result from:
Compute income elasticity if demand increases by 5% and income by 1%.
For a commodity with a unitary elastic demand curve if the price of the commodity rises, then the consumer's total expenditure on this commodity should be:
What is the value of elasticity of demand for the good is perfectly elastic?
What is the original price of a commodity when price elasticity is 0.71 and demand changes from 290 units to 15 units and the new price is rs 10?
If the price of any complement good rises:
Giffen paradox is an exception of