If the price of 'X' rises by 10 percent and the quantity demanded fall – McqOptions

MCQOPTIONS

1.	If the price of 'X' rises by 10 percent and the quantity demanded falls by 10 percent, 'X' has
A.	Inelastic demand
B.	Unitarily elastic demand
C.	Zero elastic demand
D.	Elastic demand
Answer» C. Zero elastic demand

Discussion

No Comment Found

Related MCQs

Suppose the short run cost function can be written as TC=250 + 10Q. Average fixed cost equals~!
According to Malthus, population increases by progression of which kind?%!
The following are some of the costs of a clothing manufacturer. State which among them will you consider as fixed cost?%!
Which of the following is not a feature of perfect competition?%!
The horizontal demand curve parallel to x-axis implies that the elasticity of demand is%!
Identify the coefficient of price-elasticity of demand when the percentage increase in the quantity of a commodity demanded is smaller than the percentage fall in its price%!
Elinor Ostrom and Oliver Williamson are the Nobel Prize Laureates in Economics in 2009. Do you know in which year was Francois Quesnay's Tableu Economique published?%!
Credit creation power of the commercial banks gets limited by which of the following?%!
Law of demand shows relation between%!
Demand for a commodity refers to a%!