When a change in price results in an infinitely large response in quantity demanded, demand is
Unit elastic
Perfectly inelastic
Perfectly elastic
Elastic
The cross elasticity of demand measures the responsiveness of the quantity demanded of a particular good to changes in the prices of
Its substitute and its complements
Its substitute but not its complements
Its complements but not its substitutes
Its complements but not its giffen goods
Distribution
Price elasticity of demand of a horizontal demand curve is called
Cross elastic
According to the law of demand, there is ______ relationship between price and quantity demand.
Positive
Negative
Inverse
Direct
When cross elasticity of demand is minus infinity, then two goods are
Substitutes
Complements
Not related
Perfect complements
