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प्रश्न
Elasticity of demand is equal to one indicates
विकल्प
Unitary Elastic Demand
Perfectly Elastic Demand
Perfectly Inelastic Demand
Relatively Elastic Demand
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उत्तर
Unitary Elastic Demand
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संबंधित प्रश्न
Income elasticity of demand for inferior goods is negative.
Price elasticity of demand of goods X is -2 and goods Y is -3. Which of the two goods is more price elastic and why?
As we move along a downward sloping straight line demand curve from left to right, price
an elasticity of demand : (choose the correct alternative)
(a) remains unchanged
(b) goes on falling
(c) goes on rising
(d) falls initially then rises
8 units of a good are demanded at a price of Rs 7 per unit. Price elasticity of demand is (−) 1. How many units will be demanded if the price rises to Rs 8 per unit? Use expenditure approach of price elasticity of demand to answer this question.
Give reasons or explain the following statements
Demand for basic necessities is inelastic.
What do you mean by complements? Give examples of two goods which are complements of each other.
Consider the demand curve D(p) = 10 − 3p. What is the elasticity at price `5/3` ?
State whether the following statement is TRUE and FALSE.
Demand for luxuries is elastic.
State whether the following statement is TRUE and FALSE.
Total outlay is price multiplied by quantity.
State whether the following statement is TRUE and FALSE.
Unitary Elastic Demand rarely occurs in practice.
State whether the following statement is TRUE and FALSE.
Concept of Elasticity of Demand is useful for finance minister.
Define the following concept:
Cross Elasticity of Demand
State whether the following statement is true or false. Give valid reasons in support of your answer.
Luxury goods often have lower price elasticity of demand.
Identify the correct pair of items from the following Columns I and II:
| Columns I | Columns II |
| (1) Perfectly elastic supply | (a) Es > 1 |
| (2) Perfectly inelastic supply | (b) Es < 1 |
| (3) Unitary elastic supply | (c) Es = 1 |
| (4) Relatively elastic supply | (d) Es = 0 |
Assertion (A): Elasticity of demand explains that one variable is influenced by another variable.
Reasoning (R): The concept of elasticity of demand indicates the effect of price and changes in other factors on demand.
State with reasons whether you agree or disagree with the following statement:
The elasticity of demand gets influenced by the nature of the commodity.
Assertion (A) : A change in quantity demanded of one commodity due to a change in the price of other commodity is cross elasticity.
Reasoning (R) : Changes in consumers income leads to a change in the quantity demanded.
Explain the term elasticity of demand.
What does elasticity of demand measure?
Who introduced the concept of elasticity of demand?
