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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
Explain the factors determining the elasticity of demand.
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 100 on a good priced at Rs 4 per unit. When its price falls by 25 percent, the consumer spends Rs 75 on the good. Calculate the price elasticity of demand by the Percentage method.
Fill in the blanks with appropriate alternatives given in the bracket.
Demand elasticity can be measured from demand curve by ___________ method.
What do you mean by an ‘inferior good’? Give some examples.
Explain price elasticity of demand.
Fill in the blank with appropriate alternatives given below:
The slope of demand curve is _______________ in case of inelastic demand.
Give an economic term:
Elasticity resulting from a proportionate change in quantity demanded due to a proportionate change in price.
What does elasticity of demand measure?
What is unit elasticity of demand?
