MCQ
Function showing relationship between input and output is known as $.........$
- AConsumption function.
- BInvestment function.
- ✓Production function.
- DCost function.
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| Column I | Column II |
| A. Elasticity of demand | (i) $E_d=\infty$ |
| B. Horizontal straight line demand curve | (ii) $E _d>1$ |
| C. Perfectly inelastic demand | (iii) (-) $\frac{1}{\text { Slope of demand curve }} \times \frac{P}{Q}$ |
| D. Elastic demand | (iv) Change in price causes no change in the quantity demanded |
| Price (Rs.) | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 |
| Demand | 30 | 29 | 29 | 25 | 24 | 24 | 24 | 21 | 18 | 15 |