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Demand and Supply MCQs

Irrespective of price, Sofia always spends Rs. 100 a week on ice cream, we conclude that

September 27, 2022
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Irrespective of price, Sofia always spends Rs. 100 a week on ice cream, we conclude that

Q. Irrespective of price, Sofia always spends Rs. 100 a week on ice cream, we conclude that:

  1. Elasticity of demand is 0
  2. Elasticity of demand is 1
  3. Elasticity of demand is infinite
  4. The law of demand has been violated

Answer: Elasticity of demand is 1

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