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प्रश्न
Study the statement given below and state whether demand will be elastic or inelastic, citing reasons for your answer.
A consumer postpones the purchase of a refrigerator till the off-season sale.
उत्तर
Elastic, because consumer does not need refrigerator immediately.
APPEARS IN
संबंधित प्रश्न
Assertion (A): Total expenditure method measures elasticity of demand at a given point on the demand curve.
Reasoning (R): Total expenditure refers to the product of price and quantity demanded.
Complete the correlation :
Ratio method : Ed = `(%Delta"Q")/(%Delta"P")` :: ______ : Ed = `"Lower segment"/"Upper segment"`
Complete the correlation:
Ratio method: Ed = `(%\Delta"Q")/(%\Delta"P")`:: ______ : Ed = `("Lower segment")/("Upper segment")`
Complete the correlation:
Ratio method : Ed = `("%"\Delta"Q")/("%"\Delta"P")` :: ______ : Ed =`("Lower segment") /("Upper segment")`
If the price of a commodity decreases from ₹ 70 per unit to ₹ 60 per unit and the quantity demanded remains the same, then the price elasticity of demand for that commodity will be ______.
If the percentage increase in the quantity of a commodity is smaller than the percentage fall in its price, the coefficient of price elasticity of demand is ______.
Assertion (A): Suppose that a 2 per cent drop in the price of chocolate causes a 2 per cent increase in quantity demanded. This case is termed unit elasticity.
Reason (R): In this example, Ed is exactly 1 (or unity). Ed = `2/2=1`
When % change in demand is greater than % change in price, it is a case of inelastic demand. Write true or false. Give reason.
With the help of a diagram, explain the condition when Ep = 1.
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 personal computers
