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प्रश्न
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.
विकल्प
True
False
उत्तर
This statement is True.
Explanation:
If the elasticity of demand for salt is zero, the quantity demanded does not change regardless of the price. Therefore, even if the price rises from ₹5 per kg to ₹8 per kg, the household will still demand the same quantity of 2 kg of salt.
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संबंधित प्रश्न
Answer the following question.
Explain the geometric method of calculating the elasticity of supply.
Identify the type of goods having price elasticity of demand greater than 1:
Degrees of price elasticity of demand is of ______ types.
Which is the implication of a horizontal demand curve?
The demand curve is horizontal
What will be the value of price elasticity in this case?
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
Indicate the degree of elasticity of demand of the following demand curves.
A perfectly elastic demand curve is parallel to the X-axis. Why or why not?
What is price elasticity of demand for life saving drugs?
What is the price elasticity of demand for the following demand curve:
Rectangular hyperbola.
