if demand is price inelastic ?

Related Mcqs:

Market equilibrium exists when _________ at the prevailing price?

A. quantity demanded equals quantity supplied B. quantity demanded is less than quantity supplied C. quantity supplied is greater than quantity demanded D. quantity demanded is greater than quantity supplied...

A shift in aggregate supply is likely to ?

A. Reduce the general price level and reduce national income B. Reduce the general price level and increase national income C. Increase the general price level and reduce national income D. Increase the general price level and increase national income...

Profits are maximized when ?

A. costs are minimized B. revenue is maximized C. average cost is less than average revenue D. marginal cost equals marginal revenue...

According to the law of diminishing utility ?

A. Utility is at a maximum with the first unit B. Increasing units of consumption increase the marginal utility C. Marginal product will fall as more units are consumed D. Total utility will rise at a falling rate as more units are consumed...

If your income doubles and the prices of the goods you buy double then your demand for these goods will likely?

A. increase B. not change C. decrease D. shift...