Question
Economics Question on Consumer behaviour
Identify the statement which is not correct regarding consumer behaviour and demand.
A
The demand for petroleum products is highly inelastic
B
Utility is expressed in utils
C
Downward movement along a demand curve takes palce due to increase in price of the commodity
D
In perfectly inelastic demand, the demand curve is parallel to Y-axis
Answer
Downward movement along a demand curve takes palce due to increase in price of the commodity
Explanation
Solution
The correct option is (C): Downward movement along a demand curve takes palce due to increase in price of the commodity