Demand, supply, elasticity

Question 1 of 10

Income rises by 10% and demand for a good falls by 5%. The good is

Question 2 of 10

Goods demanded together, such as bread and butter, have

Question 3 of 10

If a 20% rise in price causes a 10% fall in quantity demanded, demand is

Question 4 of 10

An increase in supply, other things equal, leads to

Question 5 of 10

A Giffen good is one whose demand

Question 6 of 10

A rise in the price of tea leads to an increase in demand for coffee. Tea and coffee are

Question 7 of 10

An inferior good is one whose demand

Question 8 of 10

A good has PED of −0.3. A 20% price rise changes total revenue by about

Question 9 of 10

A Giffen good is one for which

Question 10 of 10

A rise in the price of tea leads to a rise in demand for coffee. The cross elasticity is