Eco quick knowledge test

1 / 5

The demand for meals at a medium-priced
restaurant is elastic. If the management of the
restaurant is considering raising prices, it can expect a
relatively:

2 / 5

Price Elasticity of Demand of a good is (-) 3. It
shows that:

3 / 5

If the quantity of a commodity demanded
remains unchanged as its price changes, the
coefficient of price elasticity of demand is:

4 / 5

When the price of a substitute of commodity X
falls, the demand for X:

5 / 5

Which aspect of taxation involves Normative
Economics?

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