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प्रश्न
When change in price is greater than the change in quantity demand it is a case of elastic demand.
विकल्प
True
False
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उत्तर
This statement is False.
Explanation:
When the price change is greater than the change in quantity demanded, it is a case of inelastic demand, not elastic demand. Inelastic demand means that the quantity demanded is relatively unresponsive to changes in price. Elastic demand occurs when the percentage change in quantity demanded is greater than in price.
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संबंधित प्रश्न
A consumer buys 30 units of a good at a price of the Rs10per unit. The price elasticity of demand for the good is (-) 1. How many units will the consumer buy at a price of Rs 9 per unit? Calculate.
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'?
Explain any 'two methods' of measuring price elasticity of demand.
The demand for salt is ______.
Fill in the blank with appropriate alternatives given below:
The slope of demand curve is _______________ in case of inelastic demand.
Elasticity of demand is equal to one indicates
What are the methods of measuring Elasticity of demand?
State with reasons whether you agree or disagree with the following statement:
The elasticity of demand gets influenced by the nature of the commodity.
mention any two examples of composite demand.
When is the demand for a good said to be elastic?
