Advertisements
Advertisements
प्रश्न
A list of goods is given below. state whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.
Demand for precious stones and costly jewellery
Advertisements
उत्तर
Their demand is inelastic. Costly diamonds and jewellery are demanded by very rich persons who do not bother price change much.
APPEARS IN
संबंधित प्रश्न
With the help of a graph explain a perfectly inelastic demand curve.
Identify elastic demand when value of Ed is ______.
From the following goods, demand for which is inelastic?
What is unitary elastic demand? Draw a diagram to illustrate it.
Draw a diagram showing elasticity of demand less than one.
Study the table given below and state whether demand is elastic or inelastic. Give reasons for your answer.
| Price in ₹ | Total outlay ₹ |
| 5 | 25 |
| 3 | 18 |
How do we determine whether the demand for a particular commodity is elastic or inelastic?
A perfectly elastic demand curve is parallel to the X-axis. Why or why not?
What is the price elasticity of demand for the following demand curve?
Rectangular hyperbola
A list of goods is given below. state whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.
demand for refrigerators
