Choose the false statement:

Question

ObjectiveMcq · Accepted Answer

if the price and the producers income are directly proportional, the demand is elastic

ObjectiveMcq · Answer

in general, the demand for necessity goods is less elastic than demand for luxury goods

ObjectiveMcq · Answer

after a long period of time since the change in the price of the good A, supply becomes more elastic

ObjectiveMcq · Answer

for a company whose production process involves making two goods, one main and the other secondary, if the price of the main good increases, - caeteris paribus - the supply onthe secondary goods market will increase (and vice versa)