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प्रश्न
The elasticity of demand for school bag will be ______.
विकल्प
Elastic
Perfectly elastic
Unitary elastic
Inelastic
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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.
संबंधित प्रश्न
Income elasticity of demand for inferior goods is negative.
When the price of good rises from Rs10 to Rs12 per unit, its demand falls from 25 units to 20 units. What can you say about price elasticity of demand of the good through the 'expenditure approach'?
A consumer buys 27 units of a good at a price of Rs 10 per unit. When the price falls to Rs 9 per unit, the demand rises to 30 units. What can you say about price elasticity of demand of the good through the 'expenditure approach'?
A consumer spends Rs 400 on a good priced at Rs 4 per unit. When the price rises by 25 percent, the consumer continues to spend Rs 400. Calculate the price elasticity of demand by percentage method.
Write a short note on factors determining elasticity of demand.
State whether the following statement isTrue or False with reason:
The concept of elasticity of demand is useful in economic theory.
Fill in the blanks with appropriate alternatives given in the bracket.
Demand elasticity can be measured from demand curve by ___________ method.
The concept of elasticity of demand was introduced by
Explain the concept of price elasticity of demand.
What is meant by elastic demand?
