A given percentage change in price results in an equal percentage change in sales, indicates:
A) unitary price elasticity
B) inelastic price elasticity
C) elastic price elasticity
D) none
Correct Answer:
Verified
Q8: Cross price elasticity may not always be
A)
Q9: Luxury goods are:
A) price inelastic
B) price elastic
C)
Q10: If close substitutes are available, then the
Q11: The relationship between supply and price is
A)
Q12: The relationship between demand and price is
A)
Q14: What is the order of differential equation
Q15: A line for linear equation should begin
Q16: Functional relationship between input and output is
Q17: Law of variable proportion explainsfor
A) short run
B)
Q18: In CES production function, the elasticity of
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