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Assertion and Reasoning type of question: Assertion (A): Degree of price elasticity is less than one in case of relatively inelastic demand. Reasoning (R): Change in demand is less than the change - Economics

MCQ

Assertion and Reasoning type of question:

Assertion (A): Degree of price elasticity is less than one in case of relatively inelastic demand.

Reasoning (R): Change in demand is less than the change in price.

Options

  • (A) is true, but (R) is false

  • (A) is false, but (R) is true

  • Both (A) and (R) are true and (R) is the correct explanation of (A)

  • Both (A) and (R) are true and (R) is not the correct explanation of (A)

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Solution

Both (A) and (R) are true and (R) is the correct explanation of (A)

Concept: Types of Price Elasticity of Demand
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APPEARS IN

Balbharati Economics 12th Standard HSC Maharashtra State Board
Chapter 3.2 Elasticity of Demand
Exercise | Q 4. (3) | Page 35
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