MCQ

Fill in the blanks with appropriate alternatives given in the bracket.

Demand elasticity can be measured from demand curve by ___________ method.

#### Options

1.Total outlay

2.Percentage

3.Geometric

4.Mathematical

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#### Solution

Demand elasticity can be measured from demand curve by *geometric *method.

Explanation:

Geometric method is also called point method of measuring elasticity. Under this method, elasticity is measured at different points on a demand curve.

Concept: Elasticity of Demand

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