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प्रश्न
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
उत्तर
A refrigerator is not an essential item of consumption for the common man. So, its demand will be relatively elastic.
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संबंधित प्रश्न
A demand curve which takes the form of a vertical line parallel to the price axis illustrates elasticity, which 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 ______.
What is unitary elastic demand? Draw a diagram to illustrate it.
For the following list of goods state whether the demand is elastic or inelastic. Give reasons:
Rolex watches
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 |
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What is price elasticity of demand for life saving drugs?
What is the price elasticity of demand for the following demand curve?
Straight line demand curve parallel to Y-axis.
