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Which among the following statement is INCORRECT?
  • a)
    On a linear demand curve, all the five forms of elasticity can be depicted’
  • b)
    If two demand curves are linear and intersecting each other, then elasticity would be same on different demand curves at the point of intersection.
  • c)
    If two demand curves are linear, and parallel to each other then at a particular price the coefficient of elasticity would be different on different demand curves.
  • d)
    The price elasticity of demand is expressed in terms of relative not absolute, changes in price and quantity demanded
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Which among the following statement is INCORRECT?a)On a linear demand ...
If the two straight line demand curves in­tersect, then, of them, the steeper line would be less elas­tic and the flatter line would be more elastic.
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Most Upvoted Answer
Which among the following statement is INCORRECT?a)On a linear demand ...
B) Cross-price elasticity measures the responsiveness of quantity demanded to a change in the price of a related good.
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Which among the following statement is INCORRECT?a)On a linear demand curve, all the five forms of elasticity can be depicted’b)If two demand curves are linear and intersecting each other, then elasticity would be same on different demand curves at the point of intersection.c)If two demand curves are linear, and parallel to each other then at a particular price the coefficient of elasticity would be different on different demand curves.d)The price elasticity of demand is expressed in terms of relative not absolute, changes in price and quantity demandedCorrect answer is option 'B'. Can you explain this answer?
Question Description
Which among the following statement is INCORRECT?a)On a linear demand curve, all the five forms of elasticity can be depicted’b)If two demand curves are linear and intersecting each other, then elasticity would be same on different demand curves at the point of intersection.c)If two demand curves are linear, and parallel to each other then at a particular price the coefficient of elasticity would be different on different demand curves.d)The price elasticity of demand is expressed in terms of relative not absolute, changes in price and quantity demandedCorrect answer is option 'B'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Which among the following statement is INCORRECT?a)On a linear demand curve, all the five forms of elasticity can be depicted’b)If two demand curves are linear and intersecting each other, then elasticity would be same on different demand curves at the point of intersection.c)If two demand curves are linear, and parallel to each other then at a particular price the coefficient of elasticity would be different on different demand curves.d)The price elasticity of demand is expressed in terms of relative not absolute, changes in price and quantity demandedCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which among the following statement is INCORRECT?a)On a linear demand curve, all the five forms of elasticity can be depicted’b)If two demand curves are linear and intersecting each other, then elasticity would be same on different demand curves at the point of intersection.c)If two demand curves are linear, and parallel to each other then at a particular price the coefficient of elasticity would be different on different demand curves.d)The price elasticity of demand is expressed in terms of relative not absolute, changes in price and quantity demandedCorrect answer is option 'B'. Can you explain this answer?.
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