The price elasticity of demand is a negative number this means ?

Related Mcqs:

If a product is a vablen good ?

A. Demand is inversely related to income B. Demand is inversely related to price C. Demand is directly related to price D. Demand is inversely related to the price of substitutes...

Increase unemployment benefits and less incentive to work would ?

A. shift aggregate supply to the right B. shift aggregate supply to the left C. shift aggregate demand to the right D. shift aggregate demand to the left...

If the demand for coffee decreases as income decreases, coffee is ?

A. an inferior good B. a normal good C. a complementary good D. a substitute good...

If the cross elasticity of demand is -2 ?

A. The products are substitutes and demand is cross price elastic B. The products are substitutes and demand is cross price inelastic C. The products are complements and demand is cross price elastic D. The products are complements and demand is cross price inelastic...

Marginal revenue is the ________ when output is __________?

A. Change in average revenue, increased B. Change in total revenue, increase by one unit C. change in average revenue, increased by one unit D. change in total revenue increased...