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प्रश्न
Price elasticity of demand is defined as the percentage change in the quantity demanded of a commodity divided by the percentage change in the price of that commodity.
विकल्प
True
False
उत्तर
This statement is True.
APPEARS IN
संबंधित प्रश्न
Explain the factors determining the elasticity of demand.
The measure of price elasticity of demand of a normal good carries minus sign while price elasticity of supply carries plus sign. Explain why?
A consumer spends Rs 60 on a good priced at Rs 5 per unit. When price rises by 20 percent, the consumer continues to spend Rs 60 on the good. Calculate the price elasticity of demand by percentage method.
Fill in the blank with appropriate alternatives given below:
Perfectly elastic demand curve is ________________.
Define or explain the following concept:
Unitary Elastic Demand
Give reason or explain the following statement:
Demand for commodity having multiple uses has elastic demand.
Give economic term:
Elasticity resulting from infinite change in quantity demanded.
Give an economic term:
Elasticity resulting from a proportionate change in quantity demanded due to a proportionate change in price.
The concept of elasticity of demand was introduced by
When is the demand for a good said to be elastic?
