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प्रश्न
When change in price is greater than the change in quantity demand it is a case of elastic demand.
पर्याय
True
False
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उत्तर
This statement is False.
Explanation:
When the price change is greater than the change in quantity demanded, it is a case of inelastic demand, not elastic demand. Inelastic demand means that the quantity demanded is relatively unresponsive to changes in price. Elastic demand occurs when the percentage change in quantity demanded is greater than in price.
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संबंधित प्रश्न
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
Explain any 'two methods' of measuring price elasticity of demand.
Define or explain the following concept.
Unitary elastic demand.
Fill in the blanks with appropriate alternatives given in the bracket.
Demand elasticity can be measured from demand curve by ___________ method.
Explain price elasticity of demand.
Give reason or explain the following statement.
All desires are not demand.
State whether the following statement is TRUE and FALSE.
Concept of Elasticity of Demand is useful for finance minister.
Draw a diagram to show the elasticity of demand when it is greater than one.
Assertion (A): Elasticity of demand explains that one variable is influenced by another variable.
Reasoning (R): The concept of elasticity of demand indicates the effect of price and changes in other factors on demand.
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.
