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प्रश्न
When is the demand of a commodity said to be inelastic?
उत्तर
When the percentage change in quantity demanded is less than the percentage change in price, then demand is said to be less elastic.
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संबंधित प्रश्न
Define the form of market which has a perfectly elastic demand curve.
Degrees of price elasticity of demand is of ______ types.
The demand curve is vertical
What will be the value of price elasticity in this case?
Match the following and select the correct option.
| Column I | Column II | ||
| (i) | Perfectly elastic demand | A. | Ed = 0 |
| (ii) | Perfectly inelastic demand | B. | Ed = ∞ |
| (iii) | Relatively elastic demand | C. | Ed < 1 |
| (iv) | Relatively inelastic demand | D. | Ed > 1 |
Match the following:
| Column I | Column II |
| A. Goods whose close substitutes are available | (i) Perfectly elastic demand |
| B. Goods whose demand cannot be postponed | (ii) Perfectly inelastic demand |
| C. Goods whose quantity demanded does not respond to price change | (iii) Elastic demand |
| D. Goods which are perfect substitutes | (iv) Inelastic demand |
Would the elasticity of demand in the following case be unity, less than unity or greater than unity?
A fall in the price of commodity, the total expenditure remains the same.
Indicate the degree of elasticity of demand of the following demand curves.
What is price elasticity of demand for life saving drugs?
Indicate the degree of elasticity of demand of the following demand curve.
What is the price elasticity of demand for the following demand curve:
Straight line demand curve parallel to X-axis.
