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प्रश्न
Degrees of price elasticity of demand is of ______ types.
विकल्प
three
five
two
four
उत्तर
Degrees of price elasticity of demand is of five types.
Explanation:
- Perfectly Elastic Demand (Ed = ∞)
- Perfectly Inelastic Demand (Ed = 0)
- Relatively Elastic Demand (Ed > 1)
- Relatively Inelastic Demand (Ed < 1)
- Unitary Elastic Demand (Ed = 1)
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संबंधित प्रश्न
Identify the type of goods having price elasticity of demand greater than 1:
Define the form of market which has a perfectly elastic demand curve.
A demand curve which takes the form of a vertical line parallel to the price axis illustrates elasticity which is ______.
The demand curve is horizontal
What will be the value of price elasticity in this case?
If elasticity of demand for salt is zero, and household demands 2 kg. of salt during one month when its price is ₹ 5 per kg., this household will demand the same quantity of salt even if price rises to ₹ 8 per kg.
Match the following:
| Column I | Column II |
| A. Perfectly Elastic | (i) Ed = 0 |
| B. Perfectly Inelastic | (ii) Ed = infinity |
| C. Highly Elastic | (iii) Ed < I |
| D. Less Elastic | (iv) Ed > I |
Would the elasticity of demand in the following case be unity, less than unity or greater than unity?
A rise in the price of a commodity increases total expenditure.
Draw a diagram showing a perfectly elastic demand curve.
For each of the following, state whether it has inelastic demand or elastic demand:
- Luxury cars
- Life saving drugs
- Salt
- English textbook of class X
Explain the different types of price elasticity of demand.
