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प्रश्न
The concept of elasticity of demand was introduced by
पर्याय
Ferguson
Keynes
Adam Smith
Marshall
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उत्तर
Marshall
APPEARS IN
संबंधित प्रश्न
Income elasticity of demand for inferior goods is negative.
Income elasticity of demand for inferior goods is negative.
Price elasticity of demand of goods X is -2 and goods Y is -3. Which of the two goods is more price elastic and why?
Price elasticity of demand for the two goods X and Y are zero and (–) 1 respectively. Which of the two is more elastic and why?
As we move along a downward sloping straight line demand curve from left to right, price
an elasticity of demand : (choose the correct alternative)
(a) remains unchanged
(b) goes on falling
(c) goes on rising
(d) falls initially then rises
A consumer spends Rs 400 on a good priced at Rs 8 per unit. When its price rises by 25 percent, the consumer spends Rs 500 on the good. Calculate the price elasticity of demand by the Percentage method.
Price elasticity of demand of a good is (-) 1. Calculate the percentage change in price that will raise the demand from 20 units to 30 units.
What do you mean by an ‘inferior good’? Give some examples.
Fill in the blank with appropriate alternatives given below:
Perfectly elastic demand curve is ________________.
State whether the following statement is TRUE and FALSE.
Concept of Elasticity of Demand is useful for finance minister.
Define or explain the following concept:
Income Elasticity of Demand
Give reason or explain the following statement:
Demand for habitual goods is inelastic.
Give reason or explain the following statement:
Demand for goods having snob appeal has elastic demand.
What are the degrees of price elasticity of Demand?
Study the following table and answer the questions:
| Price of Pen (₹) | Demand for Pen |
| 10 | 500 |
| `square` | 400 |
| 30 | `square` |
| `square` | 200 |
| 50 | `square` |
Questions:
- Complete the above table.
- Which type of relationship is found between the price of a pen and demand for the pen?
The price of a good decreases from ₹100 to 80 per unit. If the price elasticity of demand for the good is 2 and the original quantity demanded is 30 units, calculate the new quantity demanded.
The elasticity of demand for school bag will be ______.
- Luxuries goods have generally elastic demand.
- Goods whose close substitutes are available have inelastic demand.
What is unit elasticity of demand?
