If a price increase of good A increases the quantity demanded of good B, then good B is a________________?

Related Mcqs:

1. If the quantity demanded of beef increases by 5% when the price of chicken increase by 20% the cross-price elasticity of demand between beef and chicken is ?

   A. -4 B. 0.25 C. 4 D. -0.25...

2. Instead, assume that global economic expansion causes the quantity of tin demanded to increase by 4 million pounds at each price To maintain price of tin at the target price you would ?

   A. sell 4 million pounds of tin B. sell 8 million pounds of tin C. buy 4 million pounds of tin D. buy 8 million pounds of tin...

3. Price increases from 10 to 12 pence and the price elasticity of demand is -0.5 The quantity demanded was 500 units. What will it be now ?

   A. 550 units B. 500 units C. 450 units D. 490 units...

4. Assume that global recession causes the quantity of tin demanded to decrease by 4 million pounds at each price To maintain the price of tin at the target price you would ?

   A. sell 4 million pounds of tin B. sell 8 million pounds of tin C. buy 4 million pounds of tin D. buy 8 million pounds of tin...

5. Average income increase from Rs20,000 p.a to Rs 22,000 p.a Quantity demanded per year increases 5000 to 6000 units. Which of the following is correct ?

   A. Demand is price inelastic B. The good is inferior C. Income elasticity is -2 D. The product is normal...

6. The price of apples falls by 5% and quantity demanded increases by 6% This means that demand is ?

   A. zero elastic B. elastic C. perfectly elastic D. inelastic...

7. The price decrease from Rs 2,000 to Rs 1,800 Quantity demanded per year increases 5000 to 6000 units. Which of the following is correct ?

   A. The price elasticity of demand is -2 B. The good is inferior C. Income elasticity is + 0.5 D. Income elasticity is + 2...

8. The price of burgers increase by 22% and the quantity of burgers demanded falls by 25% This indicates that demand for burgers is ____________?

   A. elastic B. perfectly elastic C. unitarily elastic D. inelastic....

9. The price of burgers increase by 22% and the quantity of burgers demanded falls by 25% This indicates that demand for burgers is ?

   A. elastic B. perfectly elastic C. unitarily elastic D. inelastic....

10. If a small percentage increase in the price of a good greatly reduces the quantity demanded for that good, the demand for that good is ?

    A. income inelastic B. price inelastic C. price elastic D. unit price elastic...