Economics - Study Mode
[#1391] $$frac{{\% { ext{ Change in quantity demanded of good }}x}}{{\% { ext{ Change in the price of good }}y{ ext{ }}}}$$ This formula indicates to
Correct Answer
(A) cross price elasticity of demand
[#1392] Match the following. List-I (Concepts) List-II (Features) a. Utility 1. MU tends to decline as consumption of the commodity increases b. Total utility 2. It is a want satisfying power of a good c. Marginal utility 3. Sum total of utility derived from the consumption of all the units of a commodity d. Law of diminishing marginal utility 4. Additional utility an account of the consumption of an additional unit of a commodity
Correct Answer
(C) a-2, b-3, c-4, d-1
[#1393] Goods 'A' and 'B' are complementary goods. The cost of resources used in the production of A decreases. As a result,
Correct Answer
(C) The equilibrium price of B will rise and the equilibrium price of A will fall
[#1394] A fall in the price of a commodity leads to
Correct Answer
(C) a rise in consumers real income
[#1395] Which of the following shapes of demand curve shows elasticity equal to unity at all points?
Correct Answer
(A) a rectangular hyperbola