Business Economics-Demand Analysis and Elasticity of Demand (NTA-NET (Based on NTA-UGC) Commerce (Paper-II)): Questions 1 - 3 of 27

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Question number: 1

» Business Economics » Demand Analysis and Elasticity of Demand

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Appeared in Year: 2015

MCQ▾

Question

The following is the demand function in the small market:

Where ‘Q’ denotes quantity in physical units and ‘P’ denotes price of the commodity. At price Rs. 5, the point price elasticity of demand would be:

Choices

Choice (4) Response

a.

Highly inelastic

b.

Zero

c.

Equal to unity

d.

Highly elastic

Question number: 2

» Business Economics » Demand Analysis and Elasticity of Demand

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Appeared in Year: 2015

MCQ▾

Question

A rectangular hyperbola shaped demand curve on all its points has:

Choices

Choice (4) Response

a.

Slope and price elasticity equal

b.

Equal slopes of the price demand curve

c.

Price elasticity equal to unity

d.

Varying price elasticity

Question number: 3

» Business Economics » Demand Analysis and Elasticity of Demand

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Appeared in Year: 2018

MCQ▾

Question

Which one of the following sets is incorrect to show the inter-relationships among price elasticity coefficient, change in price and change in total revenue? (September Paper II)

Choices

Choice (4) Response

a.

Table shows the inter-relationships: Choice A

Table shows the inter-relationships

Price elasticity coefficient

Change in price

Change in Total Revenue

Zero

Increase

Increase

Decrease

Decrease

b.

Table shows the inter-relationships: Choice B

Table shows the inter-relationships

Price elasticity coefficient

Change in price

Change in Total Revenue

Less than 1

Increase

Decrease

Decrease

Increase

c.

Table shows the inter-relationships: Choice C

Table shows the inter-relationships

Price elasticity coefficient

Change in price

Change in Total Revenue

Equal to 1

Increase

No change

Decrease

No change

d.

Table shows the inter-relationships: Choice D

Table shows the inter-relationships

Price elasticity coefficient

Change in price

Change in Total Revenue

More than 1

Increase

Decrease

Decrease

Increase

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