Supply & Demand Mcqs


Q.  The price decrease from Rs 2,000 to Rs 1,800 Quantity demanded per year increases 5000 to 6000 units. Which of the following is correct ?

a. The price elasticity of demand is -2
b. The good is inferior
c. Income elasticity is + 0.5
d. Income elasticity is + 2


ANSWER: See Answer
 
No explanation is available for this question!
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