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प्रश्न
When the price elasticity of demand for a good equals ______.
विकल्प
0, the demand cure is horizontal
1, the demand curve is vertical
1, the demand curve is horizontal
0, the demand curve is vertical
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उत्तर
When the price elasticity of demand for a good equals 0, the demand curve is vertical.
Explanation:
When the price elasticity of demand for a good equals 0, the demand curve is vertical, indicating that the quantity demanded does not change regardless of the price. This situation represents perfectly inelastic demand.
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संबंधित प्रश्न
Match the following :
| Group 'A' | Group 'B' |
| (a) Demand and price | (1) wages |
| (b) Perfectly elastic supply | (2) Vertical supply curve |
| (c) Land | (3) Transfer income |
| (d) Unemployment allowance | (4) Horizontal supply curve |
| (e) Reserve Bank of India | (5) Inverse relation |
| (6) Rent | |
| (7) 1935 | |
| (8) Direct relation |
Define or explain the following concepts (Any THREE):
Stock
Choose the correct answer :
Demand of labour is _______
State whether demand will be Elastic or Inelastic. Give reasons for your answer.
The demand for salt by households.
Which of the following is the most likely reason for the relatively high elasticity of bottled water?
Assertion (A): Demand for a commodity with large number of substitutes with be less elastic.
Reason (R): With large number of substitutes, even a small rise in its price will induce the buyers to go for its substitutes.
How does the availability of substitutes of a commodity affect its price elasticity of demand?
Explain briefly the factors on which elasticity of demand depends.
When will the demand curve be parallel to x-axis?
How does the nature of a good affect its elasticity of demand?
