Price elasticity of demand on a linear demand curve at the Y-axis is equal to _____.

Elasticity of Demand - 3

Quiz
•
Education
•
12th Grade
•
Hard
Sujata Debnath
Used 4+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Zero
one
infinite
Greater than one
2.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Elasticity resulting from a proportionate change in quantity demanded due to a proportionate change in price.
Perfectly elastic demand
Unitary elastic demand
Relatively elastic demand
Perfectly inelastic demand
3.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Demand for luxury goods is _________.
inelastic
elastic
infinite inelastic
unitary elastic
4.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
When factors are available in abundance the demand for factors is_______
Relatively elastic
Relatively inelastic
Perfectly inelastic
Unitary elastic
5.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Those commodities whose demand is relatively inelastic will be taxed more because it will not affect their demand much and vice-versa.
Agree
Disagree
6.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Find odd word out:
Salt
Milk
Water
Soft drinks
7.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Change in quantity demanded of one commodity due to a change in the price of other commodity is ___________ elasticity.
Price elasticity
Income elasticity
Cross elasticity
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