Question : Which of the following statements is FALSE?
A: All five types of elasticity can be depicted on a linear demand curve.'
B: If two demand curves are linear and intersect, the coefficient of elasticity on the different demand curves at the point of intersection will be the same.
C: If two demand curves are linear and parallel to each other, the coefficient of elasticity on each demand curve will be different at a given price.

Option 1: Only A correct

Option 2: Only B correct

Option 3: Only C correct

Option 4: A, B, and C all are correct 

Question : When the price elasticity of demand is less than 1, the demand is:

Option 1: Inelastic

Option 2: Unitary elastic

Option 3: Perfectly elastic

Option 4: Elastic

Question : When the price elasticity of demand is greater than 1, the demand is:

Option 1: Inelastic

Option 2: Unitary elastic

Option 3: Perfectly elastic

Option 4: Elastic

Question : Which of the following factors affects demand elasticity at prices?
a) The commodity's nature
a) Income status
c) The availability of alternatives
 

Option 1: A only 

Option 2: B and C only 

Option 3: C only 

Option 4: All of these

Question : If the price elasticity of demand is less than one, then the demand for the goods is said to be ______.

Option 1: perfectly inelastic

Option 2: inelastic

Option 3: perfectly elastic

Option 4: unitary elastic