Constant Elasticty Demand Curves

Q.

What Are the Types of Demand?

Q.

What Are the Two Variables of Demand?

Q.

Production possibilities curve is also known as -

Q.

What is an example of market equilibrium?

Q.

How do shifts in demand or supply affect markets?

Q. A rectangular hyperbola Shaped demand curve on all its points has _____________.

1. equal slopes of the price demand curve
2. price elasticity equal to unity
3. varying price elasticity
4. Both slope and price elasticity equal

Q. In the case of a straight-line demand curve meeting the two axes, the price-elasticity of demand at the mid-point of the line would be.

1. $0$
2. $1$
3. $1.5$
4. $2$

Q. In the case of a straight line demand curve the elasticity of demand is _______ at all the points on the demand curve.

1. equal
2. different
3. unitary
4. elastic

Q. State with reason whether you agree or disagree.
There is relationship between MU and TU.

Q. There is no exceptions to the law of demand in the case of _____________.

1. Giffen goods
2. Articles of conspicuous consumption
3. Ignorance of the buyer
4. Normal goods

Q. Which of the following does NOT have a uniform elasticity of demand at all points?

1. A downward sloping demand curve
2. A vertical demand curve
3. A rectangular hyperbola demand curve
4. A horizontal demand curve

Q. Q. what will be exact answer if question is explain slope of demand curve (3 or 4 marks)
Q. long run production function. (3or 4 marks)

Q. Cross elasticity of demand between petrol and car is _________.

1. infinite
2. positive
3. negative
4. zero