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प्रश्न
The demand for good rises by 20 percent as a result of all in its price. Its price elasticity of demand is (−) 0.8. Calculate the percentage fall in price.
उत्तर
`E_d="Percentage Change in Quantity Demanded"/"Percentage Change inPrice"`
or, 0.8 = `20/"Percentage Change in Price"`
or, Percentage Change in Price =`20/0.8` = 25%
Thus, the percentage fall in the price 25.
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संबंधित प्रश्न
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Income elasticity of demand.
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(i) Number of substitutes of available for the good.
(ii) Nature of the good.
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(i) Prices of other goods and demand for the given good.
(ii) Income of the buyers and demand for a good.
______ refers to the effects of a change in price of commodity X on demand for commodity Y when quantity demanded.
Which of the following points are related with effective demand?
Which of the following statement is true?
As we move along a downward sloping straight-line demand curve from left to right, price elasticity of demand ______
______ refers to the minimum price, fixed by the government, which is above the equilibrium price.
When price falls with rise in output, TR is ______ when MR is zero
Identify the correctly matched pair of the items in Column A to that of Column B.
| Column A | Column B |
| 1. Unitary elastic supply curve | (a) U-shaped supply curve |
| 2. Relatively elastic supply curve | (b) Vertical line parallel to Y-axis |
| 3. Perfectly elastic supply curve | (c) Horizontal line parallel to X-axis. |
| 4. Perfectly inelastic supply curve | (d) Downward sloping supply curve |
Which of the following factor affects the individual demand?
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If the price hike in the market is about 10% and this leads to the fall in the quantity demanded by 12%, calculate the price elasticity of demand. Mention the degree of price elasticity of demand.
