Advertisements
Advertisements
प्रश्न
The concept of elasticity of demand was introduced by
विकल्प
Ferguson
Keynes
Adam Smith
Marshall
उत्तर
Marshall
APPEARS IN
संबंधित प्रश्न
Explain the factors determining the elasticity of demand.
When the price of good rise from Rs 10 per unit to Rs 12 per unit, its quantity demanded falls by 20 percent. Calculate its price elasticity of demand. How much would be the percentage change in its quantity demanded, if the price rises from Rs 10 per unit to Rs 13 per unit?
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.
A consumer spends Rs 100 on a good priced at Rs 4 per unit. When its price falls by 25 percent, the consumer spends Rs 75 on the good. Calculate the price elasticity of demand by the Percentage method.
A consumer buys 30 units of a good at a price of the Rs10per unit. The price elasticity of demand for the good is (-) 1. How many units will the consumer buy at a price of Rs 9 per unit? Calculate.
What do you mean by an ‘inferior good’? Give some examples.
Consider the demand curve D(p) = 10 − 3p. What is the elasticity at price `5/3` ?
Give reason or explain the following statement.
All desires are not demand.
Fill in the blank with appropriate alternatives given below:
Income elasticity of demand for inferior goods is __________.
State whether the following statement is TRUE and FALSE.
Unitary Elastic Demand rarely occurs in practice.
Define or explain the following concept:
Unitary Elastic Demand
Give reason or explain the following statement:
Demand for necessaries is inelastic.
Give reason or explain the following statement:
Demand for goods having snob appeal has elastic demand.
Define price elasticity of demand.
Arrange the following coefficients of price elasticity of demand in ascending order:
(−) 3.1, (−) 0.2, (−) 1.1
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.
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.
