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प्रश्न
The concept of elasticity of demand was introduced by
विकल्प
Ferguson
Keynes
Adam Smith
Marshall
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उत्तर
Marshall
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संबंधित प्रश्न
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?
The measure of price elasticity of demand of a normal good carries minus sign while price elasticity of supply carries plus sign. Explain why?
A consumer spends Rs 1000 on a good priced at Rs 8 per unit. When price rises by 25 percent, the consumer continues to spend Rs 1000 on the good. Calculate the price elasticity of demand by percentage method.
When the price of a good falls from Rs 10 to Rs 8 per unit, its demand rises from 20 units to 24 units. What can you say about price elasticity of demand of the good through the expenditure approach?
State whether the following statement is True or False :
Concept of elasticity of demand is useful for finance minister.
State whether the following statement isTrue or False with reason:
The concept of elasticity of demand is useful in economic theory.
Give reason or explain the following statement.
All desires are not demand.
State whether the following statement is TRUE and FALSE.
Demand for luxuries is elastic.
Give reason or explain the following statement:
Demand for necessaries is inelastic.
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.
Luxury goods often have lower 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 an economic term:
Elasticity resulting from a proportionate change in quantity demanded due to a proportionate change in price.
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.
If a good takes up a significant share of consumers' budget, its demand will be ______.
What will be the effect on price elasticity of demand, if the time required to find the substitute product is more.
Explain the concept of price elasticity of demand.
When change in price is greater than the change in quantity demand it is a case of elastic demand.
