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प्रश्न
Price elasticity of demand is defined as the percentage change in the quantity demanded of a commodity divided by the percentage change in the price of that commodity.
पर्याय
True
False
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उत्तर
This statement is True.
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संबंधित प्रश्न
What will be the effect of 10 percent rise in price of a good on its demand if price elasticity of demand is (a) Zero, (b)-1, (c)-2.
Discuss any four factors affecting price elasticity of demand.
Define or explain the following concept.
Unitary elastic demand.
Give reason or explain the following statement.
All desires are not demand.
Define or explain the following concept:
Income Elasticity of Demand
Arrange the following coefficients of price elasticity of demand in ascending order:
(−) 3.1, (−) 0.2, (−) 1.1
Give an economic term:
Elasticity resulting from a proportionate change in quantity demanded due to a proportionate change in price.
If quantity supplied increases by 60% due to a 50% increase in price, then elasticity of supply is ______
When change in price is greater than the change in quantity demand it is a case of elastic demand.
Who introduced the concept of elasticity of demand?
