Advertisements
Advertisements
प्रश्न
A list of goods is given below. state whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.
demand for refrigerators
Advertisements
उत्तर
A refrigerator is not an essential item of consumption for the common man. So, its demand will be relatively elastic.
APPEARS IN
संबंधित प्रश्न
Under what conditions does the supply of good exhibit unitary elasticity?
Which is the implication of a horizontal demand curve?
When despite of no change in the price of the good, its quantity demanded increases from 10 units to 15 units, then coefficient of price elasticity will be ______.
Demand is inelastic for ______.
A product's demand is ______ when the time period under consideration is longer.
Mention the degree of price elasticity of demand for the following goods:
School uniform
Study the statement given below and state whether demand will be elastic or inelastic, citing reasons for your answer.
Demand for cigarettes by a habitual smoker.
Study the table given below and state whether demand is elastic or inelastic. Give reasons for your answer.
| Price in ₹ | Total outlay ₹ |
| 5 | 25 |
| 3 | 18 |
A perfectly elastic demand curve is parallel to the X-axis. Why or why not?
What is the price elasticity of demand for the following demand curve?
Straight line demand curve parallel to Y-axis.
