Economics - Study Mode
[#1356] The elasticity of demand at the mid point on a straight demand line is
Correct Answer
(B) Equal to one
[#1357] Expansion path in the theory of production corresponds to
Correct Answer
(B) Price consumption curve
[#1358] Which of the following best defines price discrimination?
Correct Answer
(D) Selling a certain product of given quality and cost per unit at different prices to different buyers
[#1359] Match the following. List-I List-II a. Substitute goods 1. Negative cross elasticity b. Complementary goods 2. Low price elasticity c. Giffen goods 3. Positive cross elasticity d. High income group, consumption goods 4. Positive price elasticity
Correct Answer
(B) a-3, b-1, c-4, d-2
[#1360] The demand curve faced by a monopolistically competitive firm is
Correct Answer
(B) Elastic