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प्रश्न
What is the implication of a vertical demand curve?
विकल्प
Perfectly inelastic demand
Perfectly elastic demand
Relatively inelastic demand
Unitary elastic demand
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उत्तर
Perfectly inelastic demand
Explanation:
A vertical demand curve implies that the quantity demanded does not change regardless of price changes, which is the definition of perfectly inelastic demand.
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संबंधित प्रश्न
Explain any two factors that affect the price elasticity of demand. Give suitable examples.
How does change in the price of complementary good affect the demand for the given good? Explain with the help of an example.
Define or explain the following concepts (Any THREE):
Stock
Match the following:
|
Group A
|
Group B
|
|
1. Cars and petrol
|
a. Elastic demand
|
|
2. Point method
|
b. Complementary
|
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3. Necessary goods
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c. Geometric method
|
|
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d. Inelastic demand
|
State whether demand will be Elastic or Inelastic. Give reasons for your answer.
The demand for salt by households.
State whether demand will be Elastic or Inelastic. Give reasons for your answer.
A consumer prefers to postpone the purchase of a car to avail more of year ending discount.
Which of the following is the most likely reason for the relatively high elasticity of bottled water?
Assertion (A): The demand for soap, salt, matches etc. is highly elastic.
Reason (R): The demand for soap, salt, matches etc. is highly inelastic because the consumer spends a very small amount of expenditure in relation to his/her income.
How does the time period affect the elasticity of demand?
What effect do habitual consumption patterns have on price elasticity of demand?
