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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
The measure of price elasticity of demand of a normal good carries minus sign while price elasticity of supply carries plus sign. Explain why?
A consumer buys 30 units of a good at a price of the Rs10per unit. The price elasticity of demand for the good is (-) 1. How many units will the consumer buy at a price of Rs 9 per unit? Calculate.
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.
State whether the following statements are TRUE or FALSE :
The demand of foodgrains is inelastic.
Write short answer for the following question :
Total outlay method of measuring price elasticity of demand.
Define price elasticity of demand.
Answer the following question.
If the price of a commodity rises by 40% and its quantity demanded falls from150 units to 120 units, calculate the coefficient of price elasticity of demand for the commodity.
Give economic term:
Elasticity resulting from infinite change in quantity demanded.
Who introduced the concept of elasticity of demand?
Which statement about the law of demand and elasticity of demand is true?
