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Consumers Equilibrium and Demand Test - 7

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Consumers Equilibrium and Demand Test - 7
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  • Question 1
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    On all points of rectangular hyperbola, elasticity of demand is equal to:

  • Question 2
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    When slope of demand curve is zero, elasticity of demand will be:

  • Question 3
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    In case of Ed < 1, demand for the commodity is:

  • Question 4
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    When elasticity of demand is one at all points on the demand curve, the demand curve will be:

  • Question 5
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    Demand for an essential good, say water is:

  • Question 6
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    Elasticity of demand at higher level of price is:

  • Question 7
    1 / -0

    When the price of a commodity is 10 per unit, its quantity demanded is 800 units. When its price rises by 4 per unit, its quantity demanded falls by 20 per cent. In this case elasticity of demand is:

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