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प्रश्न
State whether demand will be Elastic or Inelastic. Give reasons for your answer.
A consumer prefers to postpone the purchase of a car to avail more of year ending discount.
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उत्तर
If a customer waits to buy a car in order to take advantage of greater year-end discounts, the car will have 'elastic demand' because commodities with postponed consumption tend to have elastic demand, meaning that a slight increase in price will force customers to defer their previously planned consumption.
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संबंधित प्रश्न
State whether the following statement is true or false :
Concept of ‘elasticity of demand’ is useful for the finance minister.
Define or explain the following concepts (Any THREE):
Stock
Choose the correct answer :
Perfectly elastic demand curve is _________.
Choose the correct answer :
Demand of electricity for domestic purpose is _________.
The government wants to reduce the consumption of good by 10%. The price elasticity of demand for elasticity is -0.4. The government should raise the price of elasticity by ______.
Which of the following is the most likely reason for the relatively high elasticity of bottled water?
When will the demand curve be parallel to x-axis?
Discuss any three/ four factors determining price elasticity of demand.
Which of the following correctly describes the relationship between availability of substitutes and price elasticity of demand?
Which statement correctly describes the relationship between postponement and price elasticity?
