Advertisements
Advertisements
प्रश्न
When change in price is greater than the change in quantity demand it is a case of elastic demand.
विकल्प
True
False
Advertisements
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.
APPEARS IN
संबंधित प्रश्न
Price elasticity of demand of a good is (-) 1. Calculate the percentage change in price that will raise the demand from 20 units to 30 units.
Fill in the blanks with appropriate alternatives given in the bracket.
Demand elasticity can be measured from demand curve by ___________ method.
Fill in the blank with appropriate alternatives given below:
The slope of demand curve is _______________ in case of inelastic demand.
Write short answer for the following question :
Total outlay method of measuring price elasticity of demand.
Answer the following question.
When the price of X doubles, its quantity demanded falls by 60 percent. Calculate its price elasticity of demand. What should be the percentage change in price so that its quantity demanded doubles?
Arrange the following coefficients of price elasticity of demand in ascending order:
(−) 3.1, (−) 0.2, (−) 1.1
Give an economic term:
Elasticity resulting from a proportionate change in quantity demanded due to a proportionate change in price.
Explain the concept of price elasticity of demand.
Explain the term elasticity of demand.
What does elasticity of demand measure?
