Advertisements
Advertisements
प्रश्न
Draw a diagram to show the elasticity of demand when it is greater than one.
Advertisements
उत्तर
APPEARS IN
संबंधित प्रश्न
What will be the effect of 10 percent rise in price of a good on its demand if price elasticity of demand is (a) Zero, (b)-1, (c)-2.
Price elasticity of demand for the two goods X and Y are zero and (–) 1 respectively. Which of the two is more elastic and why?
When the price of good rise from Rs 10 per unit to Rs 12 per unit, its quantity demanded falls by 20 percent. Calculate its price elasticity of demand. How much would be the percentage change in its quantity demanded, if the price rises from Rs 10 per unit to Rs 13 per unit?
A consumer spends Rs 400 on a good priced at Rs 8 per unit. When its price rises by 25 percent, the consumer spends Rs 500 on the good. Calculate the price elasticity of demand by the Percentage method.
Price elasticity of demand of a good is (-)1. When its price per unit falls by one rupee, its de from 16 to 18 units. Calculate the price before a change
Write short notes on the Proportional method of measuring the elasticity of demand.
Define or explain the following concept.
Unitary elastic demand.
Fill in the blanks with appropriate alternatives given in the bracket.
Demand elasticity can be measured from demand curve by ___________ method.
What do you mean by an ‘inferior good’? Give some examples.
What do you mean by substitutes? Give examples of two goods which are complements of each other.
Fill in the blank with appropriate alternatives given below:
Income elasticity of demand for inferior goods is __________.
State whether the following statement is TRUE and FALSE.
Unitary Elastic Demand rarely occurs in practice.
Give reason or explain the following statement:
Demand for habitual goods is inelastic.
Answer the following question.
If the price of a commodity rises by 40% and its quantity demanded falls from150 units to 120 units, calculate the coefficient of price elasticity of demand for the commodity.
State whether the following statement is true or false. Give valid reasons in support of your answer.
The coefficient of price elasticity of demand for the commodity is inversely related to the number of alternative uses of the commodity.
Answer the following question.
When the price of X doubles, its quantity demanded falls by 60 percent. Calculate its price elasticity of demand. What should be the percentage change in price so that its quantity demanded doubles?
Give an economic term:
Elasticity resulting from a proportionate change in quantity demanded due to a proportionate change in price.
What are the methods of measuring Elasticity of demand?
If quantity supplied increases by 60% due to a 50% increase in price, then elasticity of supply is ______
What is unit elasticity of demand?
