Advertisements
Advertisements
Question
What is unitary elastic demand? Draw a diagram to illustrate it.
Advertisements
Solution
When a proportional change in price causes an equivalent proportional change in demand. The coefficient for unitary elastic demand is 1.
APPEARS IN
RELATED QUESTIONS
In case of Ed = 0, demand curve is ______.
When despite of no change in the price of the good, its quantity demanded increases from 10 units to 15 units, then coefficient of price elasticity will be ______.
Demand is inelastic for ______.
Mention one example of inelastic demand. Give a reason in support of your answer.
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?
A perfectly elastic demand curve is parallel to the X-axis. Why or why not?
The value of price elasticity of demand is 0.8. Is demand elastic or inelastic? Give reason.
A list of goods is given below. 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
A list of goods is given below. state whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.
Demand for diesel and petrol
