Demand and Supply MCQs

In case the price of a product and the total revenue from that product move in the same direction, then the demand is

September 27, 2022

9 Views

In case the price of a product and the total revenue from that product move in the same direction, then the demand is

Q. In case the price of a product and the total revenue from that product move in the same direction, then the demand is ____________.

Perfectly elastic
Inelastic
Elastic
Unrelated

Answer: Inelastic

In case the price of a product and the total revenue from that product move in the same direction, then the demand is

Previous

Which of the following is not a cause of the shift in demand for a product?

In case the price of a product and the total revenue from that product move in the same direction, then the demand is

Next

Would an increase in demand for a product cause the supply curve to shift in any direction?

Tags: Demand and Supply MCQs

Related Articles

The term 'normal profit' as used in the analysis of equilibrium of the firm under perfect competition, refers to

The term ‘normal profit’ as used in the analysis of equilibrium of the firm under perfect competition, refers to

According to Joseph Schumpeter, profit is the reward for

According to Joseph Schumpeter, profit is the reward for

Who argued that pure profit can arise only in a dynamic economy?

Who argued that pure profit can arise only in a dynamic economy?

The classical theory explained interest as a reward for

The classical theory explained interest as a reward for

We will be happy to hear your thoughts

Leave a reply Cancel reply