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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.
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संबंधित प्रश्न
Explain the factors determining the elasticity of demand.
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.
Consider the demand curve D(p) = 10 − 3p. What is the elasticity at price `5/3` ?
Fill in the blank with appropriate alternatives given below:
Perfectly elastic demand curve is ________________.
Fill in the blank with appropriate alternatives given below:
The slope of demand curve is _______________ in case of inelastic demand.
Give reason or explain the following statement:
Concept of Elasticity of Demand helps trade union leaders.
Draw a diagram to show the elasticity of demand when it is greater than one.
Choose the correct answer from given options.
The expenditure on a good would change in the opposite direction as the price changes only when demand is ______
Give an economic term:
Elasticity resulting from a proportionate change in quantity demanded due to a proportionate change in price.
