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If supply is price inelastic the value of the price elasticity of supply must be ?

September 11, 2021June 1, 2019 by admin

If supply is price inelastic the value of the price elasticity of supply must be ?

A. infinite
B. Zero
C. less than 1
D. none of these
E. greater than 1

Categories Economics Mcqs, Elasticity

If consumers always spend 15 percent of their income on food. then the income elasticity of demand for food is ?

Suppose that at a price of Rs 30 per month there are 30000 subscribers to cable television in small Town. If small Town Cablevision raises its price Rs40 per month the number of subscribers will fall to 20000 Using the midpoint method for calculating the elasticity what is the price elasticity of demand for cable TV in Small Town ?

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