Advertisements
Advertisements
Question
Identify elastic demand when value of Ed is ______.
Options
(−) 0.2
(−) 0.8
(−) 1.5
1.0
Advertisements
Solution
Identify elastic demand when value of Ed is (−) 1.5.
APPEARS IN
RELATED QUESTIONS
Draw a diagram showing a perfectly elastic demand curve.
Mention one example of inelastic demand. Give a reason in support of your answer.
For the following list of goods state whether the demand is elastic or inelastic. Give reasons:
Rolex watches
Select the commodities from the following which have inelastic demand:
Mention the degree of price elasticity of demand for the following goods:
Cosmetics
Study the table given below and state whether demand is elastic or inelastic. Give reasons for your answer.
| Price in ₹ | Total outlay ₹ |
| 5 | 25 |
| 3 | 18 |
When is the demand for a commodity said to be perfectly inelastic?
The value of price elasticity of demand is 0.8. Is demand elastic or inelastic? Give reason.
State whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.
demand for refrigerators
State whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.
demand for electricity
