Identify the correct statements from below : (A) When price consumption curve (PCC) for a good is parallel to horizontal axis, the demand function for the good is unitary elastic. (B) Given log D = α + β log y + γ log p then elasticity of log D with respect to log p is γ (C) The condition for stability in simple Keynesian system is 0 < MPC < 1 (D) The fixed cost curve is a rectangular hyperbola Choose the correct answer from the options given below :
1
(A), (C) only
2
(A), (C), (D) only
3
(A), (B), (C) only
4
(A), (B), (C), (D)