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Complete the following statement: When percentage change in quantity demanded is more than the percentage change in price, the demand curve is ______. - Economics

MCQ

Complete the following statement:

When the percentage change in quantity demanded is more than the percentage change in price, the demand curve is ______.

Options

  • flatter

  • steeper

  • rectangular

  • horizontal

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Solution

When the percentage change in quantity demanded is more than the percentage change in price, the demand curve is flatter.

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 1. (4) | Page 34
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