The slope of demand curve and the price elasticity of, Ask an Expert

Economics

Q1. The slope of demand curve and the price elasticity of demand are the same concepts. True or false? Validate your answer.

Q2. All the giffen goods are interior however all inferior goods are not giffen. Describe.

Q3. Show that the two goods can’t be inferior in a two commodity world.

Q4. What types of demand curve world encompass a constant price elasticity of demand?

Q5. The demand curve is negatively sloped due to the diminishing marginal utility. Validate.

Q6. Describe the responsibility of price mechanism.

Q7. Illustrate that ed differs from zero to infinity all along a linear demand curve.

Q8. Find out the impact on the supply curve if:

a) Tax is imposed on a good.
b) Subsidy is imposed on a good.

Q9. If there is a concurrent change in demand and supply, illustrate by using diagram under which price will raise however quantity sold remains unchanged.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M912406

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