Which one of the following elasticities takes the average of prices and quantities:
A) Point elasticity of demand
B) Arc elasticity of demand
C) Income elasticity of demand
D) Cross elasticity of demand
Correct Answer:
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Q1: A fall in income of the consumer,
Q2: Which of the following causes an increase
Q3: A movement down the given demand curve
Q4: Which of the following results in an
Q5: An increase in supply means:
A)Movement down given
Q6: An increase in market supply, demand remaining
Q8: When demand curve is rectangular hyperbola, the
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