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प्रश्न
Study the statement given below and state whether demand will be elastic or inelastic, citing reasons for your answer.
Demand for cigarettes by a habitual smoker.
उत्तर
Inelastic, because he cannot reduce the consumption of cigarettes much when price rises.
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संबंधित प्रश्न
The price elasticity of demand on a linear demand curve at the X-axis is ______.
Explain the Ratio method of measuring price elasticity of demand.
Complete the correlation :
Ratio method : Ed = `(%ΔQ)/(%ΔP)` :: _____ : Ed = `"Lower segment"/"Upper segment"`
Complete the correlation:
Ratio method : Ed = `("%"\Delta"Q")/("%"\Delta"P")` :: ______ : Ed =`("Lower segment") /("Upper segment")`
As a result of a 5% increase in price, the demand for commodity X increases by 12%. The price elasticity of demand will be ______.
When the price of a commodity falls by 80%, the quantity demanded increases by 100%. Find out its price elasticity of demand.
Ed = `100/80 = 1.25`
The price of a commodity falls from ₹15 to ₹10. As a result, demand rises from 100 units to 150 units, Use the expenditure method to find the price elasticity of demand.
When % change in demand is greater than % change in price, it is a case of inelastic demand. Write true or false. Give reason.
What is meant by unitary elastic demand?
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 cigar by a chain smoker
