Question : What will be shape of demand curve:

Option 1: Straight line 

Option 2: Upward sloping

Option 3: Downward sloping

Option 4: None of the above.

Question : Assertion(A): Demand elasticity is greater than one below the demand curve's midpoint on a straight line with a downward slope.

Reason(R): The range of demand elasticity on a linear demand curve is zero to infinity.

Option 1: Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation
of Assertion (A)

Option 2: Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation
of Assertion (A)

Option 3: Assertion (A) is true but Reason (R) is False

Option 4: Assertion (A) is False but Reason (R) is True

Question : If a demand curve is VERTICAL, the following equation represents the own-price elasticity of demand for this good:

Option 1: The infinite

Option 2: Zero
 

Option 3: One

Option 4: None of the above

Question : Assertion (A): Demand elasticity is greater than one below the demand curve's midpoint on a straight line with a downward slope.
Reason (R): The demand elasticity on a linear demand curve ranges from zero to infinity.
 

Option 1: Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation
of Assertion (A)

Option 2: Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation
of Assertion (A)

Option 3: Assertion (A) is true but Reason (R) is False

Option 4: Assertion (A) is False but Reason (R) is True

Question : The horizontal and parallel to the x-axis demand curve indicates that the elasticity of demand is____.

Option 1: Infinite

Option 2: Zero

Option 3: Greater than zero

Option 4: Equals to one