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प्रश्न
When is the demand for a good said to be elastic?
पर्याय
When % change in demand is less than % change in price
When % change in demand is greater than % change in price
When absolute change in demand is greater than absolute change in price
None of these
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उत्तर
When % change in demand is greater than % change in price
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संबंधित प्रश्न
A consumer spends Rs 1,000 on a good priced at Rs10 per unit. When its price falls by 20 percent, the consumer spends Rs800 on the good. Calculate the price elasticity of demand by the Percentage method
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Write short notes on the Proportional method of measuring the elasticity of demand.
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Unitary elastic demand.
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The concept of elasticity of demand was introduced by
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