26. When as a result of decrease in price of good, the total expenditure made on it decreases we say that price elasticity of demand is A. O Less than unity B. Unity С. О Zero D. O Greater than Unity

26. When as a result of decrease in price of good, the total expenditure made on it decreases we say that price elasticity of demand is A. O Less than unity B. Unity С. О Zero D. O Greater than Unity

Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781305971509

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Elasticity And Its Application

Section: Chapter Questions

Problem 1CQQ: A life-saving medicine without any close substitutes will tend to have a. a small elasticity of...

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Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.

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26. When as a result of decrease in
price of good, the total
expenditure made on it decreases
we say that price elasticity of
demand is
A. O Less than unity
B. O Unity
C. O Zero
D. O Greater than Unity

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