If we assume that price decreases as total expenditure increases, we may conclude that

Industrial Engineering Mcqs
BILAL KHATTAK0

A.elasticity of demand is greater than unity
B.elasticity of demand is less than unity
C.elasticity of demand is equal to unity
D.elasticity of demand is a function of market trends

Related Mcqs:

  1. Which one of the following pairs is not correctly matched?
  2. If more is demanded at the same price or same quantity at a higher price, this fact of demand is known as
  3. When the future is predicted by extra polation:
  4. A bear marker is known as
  5. A monopolist can charge a high price only for those commodities which have
  6. The price which covers the variable cost as well as the fixed price is
  7. Price elasticity of demand is best defined as
  8. The compressibility factor of any gas
  9. When supply is fixed, the market price is determined by
  10. Reflation is

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