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Start learning 50% faster. Sign in nowThe verb "meet" should be corrected to "met" to maintain proper verb tense in the sentence because the first part of the sentence is in the past tense.
Which of the following is true for income elasticity of demand?
(1) It measures the responsiveness of quantity demanded of a good with respect...
Which of the following is/are constant along a demand curve?
(1) Income of the consumers
(2) Price of related goods
For normal goods, the demand curve has a/an_______ slope.
Which of the following is true as per the law of supply?
(1) There is a negative relation between quantity supplied and price
(2) The...
What is the likely elasticity of supply when the supply curve is a straight line, vertical to the x-axis?
A perfectly elastic demand curve is