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Taxation as a Tool

Which of the ...

Question

Which of the following elasticity measures a movement along a demand curve rather than a shift in demand curve?

A

The price elasticity of demand

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B

The income elasticity of demand

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C

The cross elasticity of demand

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D

All of the above

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Solution

The correct option is B The price elasticity of demand
The price elasticity of demand measures a movement along a demandcurve rather than a shift in the demand curve.

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Similar questions

Q. Fill in the blanks with appropriate alternatives given in the brackets:

1. The demand for salt is _______________. (elasticity/ inelastic/ infinite elastic/ unitary elastic)

2. Income elasticity of demand for inferior goods is __________. (positive/ negative/ zero/ greater than one)

3. Perfectly elastic demand curve is _________________. (horizontal to OX axis / horizontal to OY axis/ flatter/ steeper)

4. Cross elasticity of demand is applicable to ____________ goods. (unrelated/ substitute/ inferior/ natural)

5. The slope of demand curve is _______________ in case of inelastic demand. (flatter/ steeper/ horizontal/ vertical)

Q.
When slope of demand curve

= 0

, price elasticity of demand =

\infty

Q.
When the slope of demand curve =

\infty

, price elasticity of demand =0.

Q. At the point above the middle of a straight line demand curve, elasticity of demand is __________

Q. Define or explain the following concepts:

1. Cross Elasticity of Demand

2. Unitary Elastic Demand

3. Income Elasticity of Demand

4. Elastic Demand

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