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प्रश्न
When the price elasticity of demand for a good equals ______.
पर्याय
0, the demand cure is horizontal
1, the demand curve is vertical
1, the demand curve is horizontal
0, the demand curve is vertical
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उत्तर
When the price elasticity of demand for a good equals 0, the demand curve is vertical.
Explanation:
When the price elasticity of demand for a good equals 0, the demand curve is vertical, indicating that the quantity demanded does not change regardless of the price. This situation represents perfectly inelastic demand.
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संबंधित प्रश्न
Explain the effect of the following on the price elasticity of demand of a commodity:
(i) Number of substitutes
(ii) Nature of the commodity
Define or explain the following concepts (Any THREE):
Stock
Choose the correct answer :
Perfectly elastic demand curve is _________.
State whether demand will be Elastic or Inelastic. Give reasons for your answer.
The demand for salt by households.
What is the implication of a vertical demand curve?
The nature of a commodity determines its price elasticity of demand. Explain.
State 3 factors which affect price elasticity of demand.
Discuss any three/ four factors determining price elasticity of demand.
How does the nature of a commodity affect its price elasticity of demand?
What effect do habitual consumption patterns have on price elasticity of demand?
