| 1 |
The elasticity of demand for a product is less than unity. Therefore, with a fall in its price, total expenditure of consumer will. |
- A. Fall
- B. Rise
- C. Remain the same
- D. Fluctuate
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| 2 |
If price changes by one % and supply changes by 2% then supply is |
- A. elastic
- B. inelastic
- C. indeterminate
- D. static
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| 3 |
If a change in demand is brought by a change in income, of demand will be. |
- A. Income elasticity
- B. Price elasticity
- C. Cross elasticity
- D. Arcelasticity
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| 4 |
The method to measure the elasticity of demand by the unitary method was introduced by. |
- A. Alfred Marshall
- B. Robbins
- C. Adam Smith
- D. Malthus
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| 5 |
The method to measure the elasticity of demand is : |
- A. Percentage method
- B. Total outlay approach
- C. Geometric approch
- D. All the three
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| 6 |
Who present the Arc Elasticity formula for the measurement of elasticity of demand. |
- A. R.G.D Allen
- B. Pareto
- C. J.R. Hicks
- D. Robbins
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| 7 |
If elasticity of supply is greater than one. supply curve will be |
- A. horizontal
- B. vertical
- C. passing through origin
- D. touching y-axis
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| 8 |
An increases in demand would cause supply curve to |
- A. shift to the left
- B. shift to the right
- C. change in slope of supply curve
- D. no effect on supply
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| 9 |
It describes the law of supply |
- A. supply curve
- B. supply schedule
- C. supply equation
- D. all the three
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| 10 |
If a firm makes 200 units of a good available at a price of Rs. 10 per unit, the elasticity is |
- A. 0.05
- B. 10
- C. 20
- D. indeterminate
|