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प्रश्न
What is the implication of a vertical demand curve?
पर्याय
Perfectly inelastic demand
Perfectly elastic demand
Relatively inelastic demand
Unitary elastic demand
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उत्तर
Perfectly inelastic demand
Explanation:
A vertical demand curve implies that the quantity demanded does not change regardless of price changes, which is the definition of perfectly inelastic demand.
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संबंधित प्रश्न
Explain any two factors that affect the price elasticity of demand. Give suitable examples.
A 5 percent fall in the price of a good raises its demand from 300 units to 318 units. Calculate its price elasticity of demand.
Write Short note on the following.
Ratio method of measuring price elasticity of demand ?
Choose the correct answer :
Demand of labour is _______
Choose the correct answer :
Demand of electricity for domestic purpose is _________.
Match the following:
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Group A
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Group B
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1. Cars and petrol
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a. Elastic demand
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2. Point method
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b. Complementary
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3. Necessary goods
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c. Geometric method
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d. Inelastic demand
|
The government wants to reduce the consumption of good by 10%. The price elasticity of demand for elasticity is -0.4. The government should raise the price of elasticity by ______.
Assertion (A): The demand for soap, salt, matches etc. is highly elastic.
Reason (R): The demand for soap, salt, matches etc. is highly inelastic because the consumer spends a very small amount of expenditure in relation to his/her income.
How does the availability of substitutes of a commodity affect its price elasticity of demand?
Which of the following correctly describes the relationship between availability of substitutes and price elasticity of demand?
