Advertisements
Advertisements
प्रश्न
What are the degrees of price elasticity of Demand?
Advertisements
उत्तर
The Degrees of Price Elasticity of Demand:
- Perfectly Elastic Demand (Ep = α)
- Perfectly Inelastic Demand (Ep = 0)
- Relatively Elastic Demand (Ep >1)
- Relatively Inelastic Demand (Ep < 1)
- Unitary Elastic Demand (Ep =1).
APPEARS IN
संबंधित प्रश्न
Demand for the commodity having multiple uses has elastic demand.
A consumer buys 18 units of a good at a price of Rs 9 per unit. The price elasticity of demand for the good is (–) 1. How many units the consumer will buy at a price of Rs 10 per unit? Calculate.
A consumer spends Rs 100 on a good priced at Rs 4 per unit. When price rises by 50 percent, the consumer continues to spend Rs 100 on the good. Calculate the price elasticity of demand by percentage method
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.
Write short notes on the Proportional method of measuring the elasticity of demand.
Discuss any four factors affecting price elasticity of demand.
Define or explain the following concept.
Unitary elastic demand.
State whether the following statement is True or False :
Concept of elasticity of demand is useful for finance minister.
What do you mean by an ‘inferior good’? Give some examples.
What do you mean by complements? Give examples of two goods which are complements of each other.
State whether the following statement is TRUE and FALSE.
Demand for luxuries is elastic.
State whether the following statement is TRUE and FALSE.
Total outlay is price multiplied by quantity.
Give reason or explain the following statement:
Concept of Elasticity of Demand helps trade union leaders.
State whether the following statement is true or false. Give valid reasons in support of your answer.
Luxury goods often have lower price elasticity of demand.
The concept of elasticity of demand was introduced by
Elasticity of demand is equal to one indicates
State with reasons whether you agree or disagree with the following statement:
The elasticity of demand gets influenced by the nature of the commodity.
When is the demand for a good said to be elastic?
Which statement about the law of demand and elasticity of demand is true?
