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प्रश्न
Elasticity of demand for two goods A and B is -2 and -3 respectively. Then good A has higher elasticity.
पर्याय
True
False
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उत्तर
This statement is False.
Explanation:
Good B has a higher elasticity because -3 (the elasticity of demand for good B) is more elastic than -2 (the elasticity of demand for good A). The more negative the elasticity value, the more elastic the demand is.
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संबंधित प्रश्न
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 _________.
Choose the correct answer :
Demand of electricity for domestic purpose is _________.
Match the following:
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Group A
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Group B
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1. Cars and petrol
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a. Elastic demand
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2. Point method
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b. Complementary
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3. Necessary goods
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c. Geometric method
|
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d. Inelastic demand
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Which of the following is the most likely reason for the relatively high elasticity of bottled water?
The nature of a commodity determines its price elasticity of demand. Explain.
Which of the following correctly describes the relationship between availability of substitutes and price elasticity of demand?
