Solution - Elasticity of Demand

Account
Register

Share

Books Shortlist

Question

Price elasticity of demand for the two goods X and Y are zero and (–) 1 respectively. Which of the two is more elastic and why?

Solution

You need to to view the solution
Is there an error in this question or solution?

Similar questions VIEW ALL

What is ‘elasticity of demand’? Explain the factors determining elasticity of demand.

view solution

Price elasticity of demand of goods X is —2 and goods Y is —3. Which of the two goods is more price elastic and why?

view solution

What will be the effect of 10 percent rise in price of a good on its demand if price elasticity of demand is (a) Zero, (b)-1, (c)-2.

view solution

A consumer buys 18 units of a good at a price of Rs 9 per unit. The price elasticity of demand for the good is (–) 1. How many units the consumer will buy at a price of Rs 10 per unit? Calculate.

view solution

The price elasticity of demand for a good is - 0.4. If its price increases by 5 percent, by what percentage will its demand fall? Calculate.

view solution
Solution for concept: Elasticity of Demand. For the courses 12th CBSE (Arts), 12th CBSE (Commerce), 12th CBSE (Science)
S