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प्रश्न
When % change in demand is greater than % change in price, it is a case of inelastic demand. Write true or false. Give reason.
विकल्प
True
False
उत्तर
This statement is False.
Explanation:
When % change in demand is greater %, change in price, demand will said to be elastic.
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संबंधित प्रश्न
Find the odd word
Method of measuring price elasticity of demand -
Complete the correlation:
Ratio method: Ed = `(%\Delta"Q")/(%\Delta"P")`:: ______ : Ed = `("Lower segment")/("Upper segment")`
Complete the correlation:
Ratio method : Ed = `(%ΔQ)/(%ΔP)` :: ______ : 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 ______.
State the formula for calculating the price elasticity of demand using the percentage method.
How do we determine whether the demand for a particular commodity is elastic or inelastic?
With the help of a diagram, explain the condition when EP < 1.
With the help of a diagram, explain the condition when Ep = 1.
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.
