Question

If the percentage increase in the quantity demanded of a commodity is less than the percentage fall in its price, then elasticity of demand is ______

विकल्प

• > 1

• = 1

• < 1

• = 0

Answer 1

If the percentage increase in the quantity demanded of a commodity is less than the percentage fall in its price, then elasticity of demand is < 1.

Explanation:

Because the percentage change in quantity requested is smaller than the price change. It is somewhat inelastic since its elasticity is less than one.