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प्रश्न
Price elasticity of demand shows:
विकल्प
Response of demand to change in price
Response of price to change in demand
Degree of response of price to change in demand
Degree of response of demand to change in price
उत्तर
Degree of response of demand to change in price
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संबंधित प्रश्न
What is meant by price elasticity of demand?
Give economic terms:
Degree of responsiveness of a change in quantity demanded of one commodity due to a change in the price of another commodity.
Distinguish Between
Price elasticity of demand and Income elasticity of demand
Assertion (A): A change in quantity demanded of one commodity due to a change in the price of other commodity is cross elasticity.
Reasoning (R): Changes in consumers income leads to a change in the quantity demanded.
Distinguish between:
Income Elasticity of Demand and Cross Elasticity of Demand
Assertion (A): A change in quantity demanded of one commodity due to a change in the price of other commodity is cross elasticity.
Reasoning (R): Changes in consumers income leads to a change in the quantity demanded.
Calculate elasticity of demand on the basis of the following data.
| Price (Rs.) | Quantity (Kg) |
| 10 | 20 |
| 20 | 15 |
- Calculate the elasticity of demand.
- Is the demand elastic or inelastic?
Assertion (A): A change in quantity demanded of one commodity due to a change in the price of other commodity is cross elasticity.
Reasoning (R): Changes in consumers income leads to a change in the quantity demanded.
Price elasticity of demand measures ______.
How is the price elasticity of demand of a commodity is affected by the number of its substitutes.
