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प्रश्न
Which of the following is the most likely reason for the relatively high elasticity of bottled water?
विकल्प
Many substitutes are available
Good for health
Can be used for many purposes
Necessity item
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उत्तर
Many substitutes are available
Explanation:
The relatively high elasticity of bottled water is most likely due to the availability of many substitutes, such as tap water, filtered water, or other beverage options. When there are many substitutes, consumers can easily switch to a different option if the price of bottled water increases, leading to higher price elasticity.
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संबंधित प्रश्न
How does change in the price of complementary good affect the demand for the given good? Explain with the help of an example.
Explain the effect of the following on the price elasticity of demand of a commodity:
(i) Number of substitutes
(ii) Nature of the commodity
Write Short note on the following.
Ratio method of measuring price elasticity of demand ?
Define or explain the following concepts (Any THREE):
Stock
Choose the correct answer :
Perfectly elastic demand curve is _________.
The price of Y falls from ₹ 8 to ₹ 6. The quantity demanded increases from 100 units to 125 units. The price electricity of demand will be ______.
When the price elasticity of demand for a good equals ______.
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.
The nature of a commodity determines its price elasticity of demand. Explain.
How does the time period affect the elasticity of demand?
