Advertisements
Advertisements
प्रश्न
The value of price elasticity of demand is 0.8. Is demand elastic or inelastic? Give reason.
Advertisements
उत्तर
Inelastic because the value of Ed is less than one (Ed < 1)
APPEARS IN
संबंधित प्रश्न
Demand is inelastic for ______.
Mention one example of inelastic demand. Give a reason in support of your answer.
What is unitary elastic demand? Draw a diagram to illustrate it.
Select the commodities from the following which have inelastic demand:
Mention the degree of price elasticity of demand for the following goods:
Cosmetics
Explain the different types of price elasticity of demand.
What is the price elasticity of demand for the following demand curve?
Rectangular hyperbola
A list of goods is given below. state whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.
Demand for cigar by a chain smoker
A list of goods is given below. state whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.
Demand for diesel and petrol
A list of goods is given below. state whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.
Demand for precious stones and costly jewellery
