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प्रश्न
From the following state whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.
Demand for precious stones and costly jewellery
उत्तर
Their demand is inelastic. Costly diamonds and jewellery are demanded by very rich persons who do not bother price change much.
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संबंधित प्रश्न
Complete the correlation:
Straight-line demand curve : Linear demand curve :: _______ : non-linear demand curve.
Complete the correlation:
Ratio method : Ed = `(%triangle"Q")/(%triangle"P")` :: _______ : Ed = `"Lower segment"/"Upper segment"`
Explain the Ratio or percentage method of measuring price elasticity of demand.
Complete the correlation:
Ratio method : Ed = `(%triangle"Q")/(%triangle"P")` :: _______ : Ed = `"Lower segment"/"Upper segment"`
Complete the correlation:
Ratio method : Ed = `("%"\Delta"Q")/("%"\Delta"P")` :: ______ : Ed =`("Lower segment") /("Upper segment")`
When is the demand for a commodity is said to be elastic?
When the price of a commodity falls by 80%, the quantity demanded increases by 100%. Find out its price elasticity of demand.
Ed = `100/80 = 1.25`
With the help of a diagram, explain the condition when EP < 1.
What is meant by unitary elastic demand?
From the following state whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.
demand for school uniform
