Advertisements
Advertisements
Question
If the demand function is said to be inelastic, then:
Options
|ηd| > 1
|ηd| = 1
|ηd| < 1
|ηd| = 0
Advertisements
Solution
|ηd| > 1
APPEARS IN
RELATED QUESTIONS
Find the elasticity of demand in terms of x for the following demand laws and also find the value of x where elasticity is equal to unity.
p = (a – bx)2
Find the elasticity of supply for the supply function x = 2p2 + 5 when p = 3.
Find out the indicated elasticity for the following function:
p = xex, x > 0; ηs
Find out the indicated elasticity for the following function:
p = `10 e^(- x/3)`, x > 0; ηs
Find the elasticity of supply when the supply function is given by x = 2p2 + 5 at p = 1.
For the demand function p x = 100 - 6x2, find the marginal revenue and also show that MR = p`[1 - 1/eta_"d"]`
Marginal revenue of the demand function p = 20 – 3x is:
Relationship among MR, AR and ηd is:
If the average revenue of a certain firm is ₹ 50 and its elasticity of demand is 2, then their marginal revenue is:
Average cost is minimum when:
