Relation between price of a commodity and demand for another commodity is measured by:
A) price elasticity
B) income elasticity
C) cross elasticity
D) elasticity of substitution
Correct Answer:
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Q11: The cause for diminishing returns to scale
Q12: The solution to diminishing returns to scale
Q13: Which one of the following is not
Q14: labourers are employed the firm produces 136
Q15: Other things remaining the same, the quantity
Q17: When TU falls, MU is:
A)rises
B)zero
C)positive
D)negative
Q18: Demand varies ------------- with price.
A)directly
B)positively
C)inversely
D)none of the
Q19: When Q = f (P), the elasticity
Q20: In the case of luxury goods, the
Q21: Income elasticity is positive, but less than
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