Home › Bihar Board Class 12 (Arts) › Economics › Theory of Consumer Behaviour › The relation between a consumer's optimal quanti…
The relation between a consumer's optimal quantity of a good and its price is called what?
ADemand function
BBudget constraint
CUtility function
DCost schedule
Answer & Solution
Correct answer: A. Demand function
The demand function gives the quantity chosen at each price, other things unchanged.
Related questions
For a price-inelastic good, a price rise causes expenditure to do what?A price rises and quantity falls by a larger percentage. What happens to expenditure on thExpenditure on a good equals which product?Why is demand for a particular variety of pulses likely more elastic than for food overallWhich kind of good typically has price inelastic demand?Which demand curve has elasticity of one at every point?A vertical demand curve is described as what?Elasticity on the part of a linear demand curve to the left of the midpoint is what?