Advertisements
Advertisements
प्रश्न
The concept of elasticity of demand was introduced by
पर्याय
Ferguson
Keynes
Adam Smith
Marshall
Advertisements
उत्तर
Marshall
APPEARS IN
संबंधित प्रश्न
Income elasticity of demand for inferior goods is negative.
When the price of a commodity X falls by 10 percent. Its demand rises from 150 units to 180
units. Calculate is price elasticity of demand. How much should be the percentage fall in its
price so that its demand rises from 150 to 210 units?
Price elasticity of demand of a good is (-)1. When its price per unit falls by one rupee, its de from 16 to 18 units. Calculate the price before a change
When the price of good rises from Rs10 to Rs12 per unit, its demand falls from 25 units to 20 units. What can you say about price elasticity of demand of the good through the 'expenditure approach'?
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.
Explain any 'two methods' of measuring price elasticity of demand.
Write short notes on the Proportional method of measuring the elasticity of demand.
A consumer spends Rs 200 on a good priced at Rs 5 per unit. When the price falls by 20 percent, he continues to spend Rs 200. Find the price elasticity of demand by percentage method.
Define or explain the following concept.
Unitary elastic demand.
What do you mean by an ‘inferior good’? Give some examples.
Explain price elasticity of demand.
Consider the demand for a good. At price Rs 4, the demand for the good is 25 units. Suppose the price of the good increases to Rs 5, and as a result, the demand for the good falls to 20 units. Calculate the price elasticity.
Define or explain the following concept:
Unitary Elastic Demand
Define or explain the following concept:
Income Elasticity of Demand
Give reason or explain the following statement:
Demand for commodity having multiple uses has elastic demand.
Answer the following question.
If the price of a commodity rises by 40% and its quantity demanded falls from150 units to 120 units, calculate the coefficient of price elasticity of demand for the commodity.
Answer the following question.
When the price of X doubles, its quantity demanded falls by 60 percent. Calculate its price elasticity of demand. What should be the percentage change in price so that its quantity demanded doubles?
Arrange the following coefficients of price elasticity of demand in ascending order:
(−) 3.1, (−) 0.2, (−) 1.1
When is the demand for a good said to be elastic?
