107) Suppose that at a price of Rs.30 per month, there are 30,000 subscribers to cable television in Small Town. If Small Town Cablevision raises its price to Rs.40 per month, the number of subscribers will fall to 20,000. At which of the following prices does
Answer is:
Rs.30 per month
Related Micro Economics MCQ (GK Set-1) with Answers
Answer is:
elastic in the upper portion and inelastic in the lower portion
Answer is:
demand would tend to be price inelastic
Answer is:
upward sloping
Answer is: