Economics · Elasticity of Demand
Match List-I (Elasticity Concept) with List-II (Condition / Property): List-I A. Price Consumption Curve (PCC) is horizontal B. Income Consumption Curve (ICC) is backward bending C. Cross price elasticity is negative D. Own price elasticity = -1 (unit elastic) List-II I. Total expenditure on the good remains constant as price changes II. Complementary goods III. Good becomes inferior beyond a threshold income IV. Demand for good X and Y move in same direction when income changes, up to a point Choose the correct answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A-III, B-I, C-IV, D-II
- 2A-I, B-IV, C-II, D-III
- 3A-II, B-IV, C-I, D-III
- 4A-I, B-III, C-II, D-IV✓
Correct answer
A-I, B-III, C-II, D-IV
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