Theory of Supply and Theory of Demand and its Elasticity

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Across
  1. 2. A horizontal supply curve parallel to the quantity axis implies that the elasticity of supply is
  2. 3. When price and demand fall in equal proportion elasticity of demand is unity. T/F
  3. 5. sloping The demand curve is usually
  4. 6. competition Demand curve of a firm is perfectly elastic under
  5. 8. inelastic supply Elasticity of supply is zero means
  6. 9. good A pair of goods which are used jointly to satisfy a given want
  7. 12. in demand When the demand curve of a product shifts leftward, it indicates a situation of
  8. 15. good One whose demand falls with increase in income
  9. 16. If the quantity supplied is exactly equal to the relative change in price then the elasticity of supply is
Down
  1. 1. If rise in price of a good causes increase in demand for other good; the two goods are
  2. 3. supply is which type of concept
  3. 4. If due to fall in prices of good x; demand for good y rises, the two goods are
  4. 7. When more the number of substitutes of a good available the higher is its price elasticity of demand.
  5. 10. Elasticity of supply refers to the degree of responsiveness of supply of a good to changes in its
  6. 11. shift, With decrease in price of petrol, demand curve of cars will make
  7. 13. elastic What is the price elasticity of supply of a commodity whose straight line supply passes through the origin forming an angle of 75 degrees
  8. 14. A vertical supply curve parallel to Y-axis implies that the elasticity of supply is