Q2 of 36 Page 1

Demand for a good is termed inelastic through the expenditure approach when if (Choose the correct alternative)

Reason - When price and total expenditure change in the same direction i.e., with increase in price total expenditure also increases and vice versa, the elasticity is said to be less than unity or inelastic.

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1

Any statement about demand for a good is considered complete only when the following is/are mentioned in it (Choose the correct alternative):

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Define indifference curve.

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A seller cannot influence the market price under (Choose the correct alternative)

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State any one feature of monopolistic competition.