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प्रश्न
Price elasticity of demand is defined as the percentage change in the quantity demanded of a commodity divided by the percentage change in the price of that commodity.
विकल्प
True
False
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उत्तर
This statement is True.
APPEARS IN
संबंधित प्रश्न
Demand for the commodity having multiple uses has elastic demand.
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
The measure of price elasticity of demand of a normal good carries minus sign while price elasticity of supply carries plus sign. Explain why?
What do you mean by an ‘inferior good’? Give some examples.
Fill in the blank with appropriate alternatives given below:
Cross elasticity of demand is applicable to ____________ goods.
Write short answer for the following question :
Total outlay method of measuring price elasticity of demand.
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 economic term:
Elasticity resulting from infinite change in quantity demanded.
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.
When change in price is greater than the change in quantity demand it is a case of elastic demand.
