If the coefficient of price elasticity of demand of a pro...
If the coefficient of price elasticity of demand of a product is zero, then its demand curve will be
Parallel to the quantity axis
Parallel to the price axis
Negatively sloped
Positively sloped
Correct answer is B
When the coefficient of price elasticity of demand is equal to zero, it means demand is perfectly inelastic. This means that demand for a good does not change in response to price.
For two substitution goods, the cross elastic of demand is ...
Population growth is determined by_______? ...
Localization of industries in Nigeria is mainly influenced by ...
An economy is described as spend-rift if it ...
Terms of trade simply means the price ...
All the following are features of market economies except ...
An ad valorem tax is imposed on_____? ...
The ordinalist approach of utility postulated that utility can be ...