Advertisements
Advertisements
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
Advertisements
उत्तर
When % change in demand is greater than % change in price
APPEARS IN
संबंधित प्रश्न
Income elasticity of demand for inferior goods is negative.
When the price of good rise from Rs 10 per unit to Rs 12 per unit, its quantity demanded falls by 20 percent. Calculate its price elasticity of demand. How much would be the percentage change in its quantity demanded, if the price rises from Rs 10 per unit to Rs 13 per unit?
A consumer spends Rs 1000 on a good priced at Rs 8 per unit. When price rises by 25 percent, the consumer continues to spend Rs 1000 on the good. Calculate the price elasticity of demand by percentage method.
A consumer buys 27 units of a good at a price of Rs 10 per unit. When the price falls to Rs 9 per unit, the demand rises to 30 units. What can you say about price elasticity of demand of the good through the 'expenditure approach'?
Explain any 'two methods' of measuring price elasticity of demand.
What is the elasticity of demand?
Fill in the blanks with appropriate alternatives given in the bracket.
Demand elasticity can be measured from demand curve by ___________ method.
Identify the correct pair of items from the following Columns I and II:
| Columns I | Columns II |
| (1) Perfectly elastic supply | (a) Es > 1 |
| (2) Perfectly inelastic supply | (b) Es < 1 |
| (3) Unitary elastic supply | (c) Es = 1 |
| (4) Relatively elastic supply | (d) Es = 0 |
As a result of 5% fall in the price of a good, its demand rises by 12%, the demand for the good will said be ______.
What is unit elasticity of demand?
