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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
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 |
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 account in which the specific amount is deposited per month regularly is known as ______.
Match the following:
|
Group A
|
Group B
|
|
1. Cars and petrol
|
a. Elastic demand
|
|
2. Point method
|
b. Complementary
|
|
3. Necessary goods
|
c. Geometric method
|
|
|
d. Inelastic demand
|
What is the implication of a vertical demand curve?
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.
Comment upon the shape of the demand curve, if Ed = 0.
How does the nature of a good affect its elasticity of demand?
