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प्रश्न
What will be the effect of 10 percent rise in price of a good on its demand if price elasticity of demand is −2?
उत्तर
20 percent fall in demand
संबंधित प्रश्न
Degree of responsiveness of a change in quantity demanded to a change in the income of the consumer −
Identify & explain the concept from the given illustration.
At Amulya Café, the demand for tea increased by 5% due to a 10% rise in the price of coffee.
Explain the types of elasticity of demand
Distinguish between:
Income Elasticity of Demand and Cross Elasticity of Demand
With the help of a diagram, explain the Relatively inelastic demand curve.
Define 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 lead to a change in the quantity demanded.
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.
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.
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.
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?
Price elasticity of demand measures ______.
Define the term price elasticity of demand.
Given values of price elasticities of demand, less 'elastic' demand is ______.
What is meant by cross elasticity of demand?
