Advertisements
Advertisements
प्रश्न
Draw a straight-line demand curve joining both the axes. Indicate the following on the demand curve.
Elasticity of demand is equal to zero
Advertisements
उत्तर
A straight-line demand curve joining both the axes is shown below:
The elasticity of demand is different at different points.
`"measured by Elasticity" = "Lower segment of demand curve"/ "Upper segment of demand curve"`
The elasticity of demand is equal to zero at point A on the diagram, as the lower segment is zero.
APPEARS IN
संबंधित प्रश्न
Explain the law of demand with its assumptions.
When does ‘increase’ in demand take place?
Explain the effect of change in prices of the related goods on demand for the given good.
Market of a commodity is in equilibrium. Demand for the commodity "increases." Explain the chain of effects of this change till the market again reaches equilibrium. Use diagram.
Distinguish between individuals demand and market demand.
Good Y is a substitute of good X. The price of Y falls. Explain the chain of effects of this change in the market of X.
How does change in the price of a substitute good affect the demand of the given good? Explain with the help of an example.
What does a rightward shift of demand curve indicate?
State with reasons whether you ‘agree’ or ‘disagree’ with the following statement.
Demand curve slopes downward from left to right.
Assertion (A): The demand curve is downward sloping.
Reason (R): The income effect means with a fall in the price of a good, the consumer's real income or purchasing power rises and he demands more units of the good.
- Assertion (A): The demand curve slopes downwards.
- Reasoning (R): A fall in the price of goods increases the real income of the consumer enabling him/her to buy more.
Study the following table and answer the questions:
| Price of Ice Cream (₹) | Quantity Supplied | Market Supply | ||
| Seller A | Seller B | Seller C | (A + B + C) | |
| 50 | 0 | 2 | 5 | 7 |
| 100 | 1 | `square` | 10 | 15 |
| 150 | `square` | 6 | 15 | 23 |
| 200 | 3 | 8 | 20 | `square` |
| 250 | 4 | 10 | `square` | 39 |
Questions:
- Complete the above table.
- State whether the following statements are True or False.
(a) Market supply has a direct relation to price.
(b) As the price rises from ₹50 to ₹250, market supply rises from 7 to 39. This indicates an increase in supply.
Figures (A), (B) and (C) given below represent different types of Demand curves.
 |
 |
 |
| (A) | (B) | (C) |
What kind of goods do each of these Demand curves represent? Give a reason for each of the curves.
What does the downward slope of the demand curve indicate?
How is the market demand curve constructed from individual demand curves?
In a demand schedule, what do the X-axis and Y-axis represent when plotting the demand curve?
