Answer: (b) Change for the proper since these are replacements
87. The price of a commodity decreases away from ? six for every single tool so you’re able to ? cuatro Each device and you can numbers demanded of your goods for the¬folded away from ten equipment so you can 15 products. The Co-efficient of Price Flexibility would be ________. (a) step 3 (b) dos (c) step 1 (d) 4 Address: (a) 3
88. Pick the fresh coefficient away from rate elasticity away from demand in the event the payment increase in the amount of a good recommended is smaller compared to the newest payment fall-in the rates: (a) Equal to that. (b) More than you to. (c) Smaller than that. (d) No. Answer: (c) Smaller than that.
89. A decrease in speed can lead to a rise in total funds if the : (a) The commission change in quan-tity needed within just the brand new fee improvement in rate. (b) The fresh new percentage improvement in quan-tity required was more than the newest commission improvement in rates. (c) Consult was inelastic. (d) The user is working together a great linear demand contour in the a good area from which the cost is quite lowest in addition to amounts demanded is really higher.
ninety. A boost in speed can lead to an increase in full money if the: (a) The latest percentage improvement in quan-tity needed was lower than the newest percentage improvement in rate. (b) Brand new fee improvement in quan-tity necessary try greater than the new payment change in speed. (c) Demand try flexible. (d) The user are performing together a great linear request bend on an excellent section where the cost is quite large plus the wide variety required is extremely reasonable. Answer: (a) The percentage improvement in quan-tity demanded are lower than the brand new payment improvement in rates.
Answer: (b) This new fee improvement in quan-tity needed was greater than the fresh new commission improvement in rate
91. In the event the rates reduces of ? 80 so you can ? 60 and you can suppleness of consult is 1.25 then ________. (a) Demand boost by twenty five% (b) Request drop off by the twenty five% (c) Remains ongoing (d) Not one of above Answer: (d) Not one of one’s significantly more than