If two commodities are complements, then their crossprice elasticity is- (1) zero (2) positive (3) negative (4) imaginary number

If two commodities are complements, then their crossprice elasticity is- (1) zero (2) positive (3) negative (4) imaginary number
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(4) imaginary number Explanation: In economics, the cross elasticity of demand or cross-price elasticity of demand measures the responsiveness of the demand for a good to a change in the price of another good. It is measured as the percentage change in demand for the first good that occurs in response to a percentage change in price of the second good. A negative cross elasticity denotes two products that are complements, while a positive cross elasticity denotes two substitute products.
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If two commodities are complements, then their cross-price elasticity is (1) zero (2) positive (3) negative (4) imaginary number

Description : If two commodities are complements, then their cross-price elasticity is (1) zero (2) positive (3) negative (4) imaginary number

Last Answer : negative

Elasticity of demand measures the responsiveness of the quantity demanded of a goods to a (1) change in the price of the goods (2) change in the price of substitutes (3) change in the price of the complements (4) change in the price of joint products

Description : Elasticity of demand measures the responsiveness of the quantity demanded of a goods to a (1) change in the price of the goods (2) change in the price of substitutes (3) change in the price of the complements (4) change in the price of joint products

Last Answer : (1) change in the price of the goods Explanation: Price elasticity of demand is a measure of responsiveness of the quantity of a good or service demanded to changes in its price. This measure of ... good with respect to the change in the price of some other good, a complementary or substitute good.

Elasticity of demand measures the responsiveness of the quantity demanded of a goods to a (1) change in the price of the goods (2) change in the price of substitutes (3) change in the price of the complements (4) change in the price of joint products

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Last Answer : change in the price of the goods

What will be the effect on inferior commodities when income of the consumer rises? (1) Negative effect (2) Positive effect (3) No effect (4) First increase then decrease

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Last Answer : (4) negative Explanation: In economics, the cross elasticity of demand or cross-price elasticity of demand measures the responsiveness of the demand for a good to a change in the ... denotes two products that are complements, while a positive cross elasticity denotes two substitute products

In the case of an inferior good, the income elasticity of demand is : (1) Zero (2) Negative (3) Infinite (4) Positive

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If the main objective of the government is to raise revenue, it should tax commodities with (1) high elasticity of demand (2) low elasticity of supply (3) low elasticity of demand (4) high income elasticity of demand

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Last Answer : low elasticity of demand

If a good has negative income elasticity and positive price elasticity of demand, it is a (1) giffen good (2) normal good (3) superior good (4) an inferior good

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Last Answer : (a) Negative

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Description : According to principle of moments  (A) If a system of coplanar forces is in equilibrium, then their algebraic sum is zero  (B) If a system of coplanar forces is in equilibrium, then the ... of  their resultant about the same point  (D) Positive and negative couples can be balanced

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Last Answer : Satisfaction from two commodities

What valuable commodities do we have in abundance?

Description : What valuable commodities do we have in abundance?

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Description : Cross demand expresses the functional relationship between - (1) demand and prices of related commodities (2) demand and income (3) demand and prices (4) demand and supply (4)

Last Answer : (1) demand and prices of related commodities Explanation: Other things being constant, cross demand expresses the relation between demand for good A' due to change in the price of its related good 'B' ... that at different prices of good B' what different quantities of good A' will be demanded.

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Last Answer : (2) demand exceeds supply Explanation: Seller's market is a market which has more buyers than sellers. High prices result from this excess of demand over supply. The opposite of the seller's market is the buyer's market, where supply greatly exceeds demand.

Average Revenue means - (1) the revenue per unit of commodity sold (2) the revenue from all commodities sold (3) the profit realised from the marginal unit sold (4) the profit realised by sale of all commodities

Description : Average Revenue means - (1) the revenue per unit of commodity sold (2) the revenue from all commodities sold (3) the profit realised from the marginal unit sold (4) the profit realised by sale of all commodities

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Which of the following is done at a Stock Exchange? (1) Commodities are bought and sold at wholesale price (2) Commodities are bought and sold at retail price (3) Securities are bought and sold (4) None of these

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Description : What is selling cost? (1) Cost incurred on transportation of commodities to market (2) Cost incurred on promoting the sale of the product (3) Cost incurred on commission and salaries personnel (4) Cost incurred on advertisement

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Last Answer : (c) drought

.In Heckscher Ohlin theory production function differ between commodities but are same between---- (a) countries. (b) factors © costs. (d) revenues.

Description : .In Heckscher Ohlin theory production function differ between commodities but are same between---- (a) countries. (b) factors © costs. (d) revenues.

Last Answer : (a) countries.

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Description : Which of the following is done at a Stock Exchange ? (1) Commodities are bought and sold at wholesale price (2) Commodities are bought and sold at retail price (3) Securities are bought and sold (4) None of these

Last Answer : Securities are bought and sold

In a Laissez-faire economy (1) the customers take all the decisions regarding production of all the commodities (2) the Government does not interfere in the free functioning of demand and supply forces in the market (3) the private-sector takes all the decisions for price-determination of various commodities produced (4) the Government controls the allocation of all the factors of production

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Last Answer : the Government does not interfere in the free functioning of demand and supply forces in the market

Cross demand expresses the functional relationship between (1) demand and prices of related commodities. (2) demand and income. (3) demand and prices. (4) demand and supply,

Description : Cross demand expresses the functional relationship between (1) demand and prices of related commodities. (2) demand and income. (3) demand and prices. (4) demand and supply,

Last Answer : demand and prices of related commodities.

What is selling cost ? (1) Cost incurred on transportation of commodities to market (2) Cost incurred on promoting the sale of the product (3) Cost incurred on commission and salaries personnel (4) Cost incurred on advertisement

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