Millionaire Mode

Theory of Demand

Question 1 of 13

Which of the following is incorrect?

  1. The cross elasticity of demand for two substitute is positive.
  2. The income elasticity of demand is the percentage change in quantity demanded of a good due to a change in the price of a substitute.
  3. The cross elasticity of demand for two complements is negative.
  4. The price elasticity of demand is always negative, except for Giffen goods.

Prize Money

15₹7 Crores
14₹1 Crore
13₹50,00,000
12₹25,00,000
11₹12,50,000
10₹6,40,000
9₹3,20,000
8₹1,60,000
7₹80,000
6₹40,000
5₹20,000
4₹10,000
3₹5,000
2₹2,000
1₹1,000