Advertisements
Advertisements
Questions
When is the demand of a commodity said to be inelastic?
When is demand less elastic?
Advertisements
Solution
When the percentage change in quantity demanded is less than the percentage change in price, then demand is said to be less elastic.
RELATED QUESTIONS
With the help of a graph explain the relatively inelastic demand for a commodity.
With the help of a graph explain a perfectly inelastic demand curve.
Degrees of price elasticity of demand is of ______ types.
From the following goods, demand for which is inelastic?
For the following list of goods state whether the demand is elastic or inelastic. Give reasons:
Bicycles
Select the commodities from the following which have inelastic demand:
Study the statement given below and state whether demand will be elastic or inelastic, citing reasons for your answer.
A consumer postpones the purchase of a refrigerator till the off-season sale.
Indicate the degree of elasticity demand of the following demand curves.
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 refrigerators
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
