Advertisements
Advertisements
प्रश्न
The elasticity of demand for school bag will be ______.
विकल्प
Elastic
Perfectly elastic
Unitary elastic
Inelastic
Advertisements
उत्तर
The elasticity of demand for school bag will be inelastic.
Explanation: For students, school bags are a necessary item, and there aren't many alternatives. Customers are unlikely to significantly change how much they buy in reaction to price changes. As a result, the demand usually becomes inelastic.
APPEARS IN
संबंधित प्रश्न
What will be the effect of 10 percent rise in price of a good on its demand if price elasticity of demand is (a) Zero, (b)-1, (c)-2.
Explain any 'two methods' of measuring price elasticity of demand.
Consider the demand for a good. At price Rs 4, the demand for the good is 25 units. Suppose the price of the good increases to Rs 5, and as a result, the demand for the good falls to 20 units. Calculate the price elasticity.
Define or explain the following concept:
Unitary Elastic Demand
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.
- 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.
What are the degrees of price elasticity of Demand?
If quantity supplied increases by 60% due to a 50% increase in price, then elasticity of supply is ______
Explain the term elasticity of demand.
When change in price is greater than the change in quantity demand it is a case of elastic demand.
