If demand is __________ then price cuts will _________ spending?

Related Mcqs:

Average income increase from Rs20,000 p.a to Rs 22,000 p.a Quantity demanded per year increases 5000 to 6000 units. Which of the following is correct ?

A. Demand is price inelastic B. The good is inferior C. Income elasticity is -2 D. The product is normal...

For an inferior good ?

A. The price elasticity of demand is negative: the income elasticity of demand is negative B. The price elasticity of demand is positive the income elasticity of demand is negative C. The price elasticity of demand is negative the income elasticity of demand is positive D. The price elasticity of demand is positive the income … For an inferior good ?Read More...

Positive cross elasticities suggest that goods are ____ and negative cross-elasticities that goods are ?

A. substitutes inferior B. normal, complements C. substitutes complements D. normal, inferior...

A movement along the demand curve to the left may be caused by ?

A. a decrease in supply. B. a rise in income C. a fall in the number of substitute goods D. a rise in the price of inputs...

if demand is price inelastic ?

A. An increase in price must raise profits B. An increase in price decrease revenue C. An increase in price increase revenue D. A decrease in price reduces sales...