- Less than unity
- Unity
- Zero
- Greater than Unity
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When demand is perfectly inelastic, an increase in price will result in?
Answer: Option 2 When demand is perfectly inelastic, an increase in price will result in an increase in total revenue.
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When cross elasticity of demand is a large positive number, one can conclude that?
Answer: Option 3 When cross elasticity of demand is a large positive number, one can conclude that the good is complement. Two goods that complement each other have a negative...
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Identify the coefficient of price-elasticity of demand when the percentage increase in the quantity of a commodity demanded is smaller than the percentage fall in its price?
Answer: Option 3 The coefficient of price-elasticity of demand is smaller than one when the percentage increase in the quantity of a commodity demanded is smaller than the percentage fall...
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When price elasticity of demand for normal goods is calculated, the value is always?
Answer: Option 2 When price elasticity of demand for normal goods is calculated, the value is always Negative. The PED is the percentage change in quantity demanded in response to...
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If elasticity of demand is very low, it shows that the commodity is?
Answer: Option 4 If elasticity of demand is very low, it shows that the commodity is necessity and has little importance in total budget.
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Who said the words, 'I disapprove of what you say, but I will defend to Death your right to say it'?
Answer: Option 3 Neutrality principle borrows from a stirring maxim often attributed to Voltaire: “I disapprove of what you say, but I will defend to the death your right to...
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What does price elasticity of demand measure?
Answer: Option 3 The price elasticity of demand measures the responsiveness of the quantity demanded to changes in the price. Demand is inelastic if it does not respond much to...
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Which code word stands for 'good' in the coded sentence 'sin co bye' which means 'He is good' Statements : I. In the same code language, 'co mot det' means 'They are good'. II. In the same code language, 'sin mic bye' means 'He is honest'.?
Answer: Option 3 In the given statement and I, the common word is 'good' and the common code word is 'co'. So, 'co' is the code for 'good'. In the given...
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It is up to our government and planners to devise ways and means for the mobilisation of about ten crore workers whose families total up about forty crore men, women and children. Our agriculture is over-manned. A lesser number of agriculturists would mean more purchasing or spending power to every agriculturist. This will result in the shortage of man-power for many commodities to be produced for which there will be a new demand from a prosperous agrarian class. This shortage will be removed by surplus man-power released from agriculture as suggested above. The passage best supports the statement that:?
Answer: Option 2 Indian economy is in a poor shape basically due to improper mobilisation of man-power.
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