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प्रश्न
With the help of a diagram, explain the Unitary elastic demand curve.
उत्तर
Unitary elastic demand curve:
When the extension or contraction in quantity demanded is equally proportional to price changes, it is a case of unitary elastic demand. The demand for commodities of comforts, e.g., electric fan, umbrella, raincoat, torch, etc., belong to this class.
संबंधित प्रश्न
Distinguish Between
Price elasticity of demand and 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.
Read the extract given below and answer the questions.
|
The Economic Times - 2024 “Lakshadweep becomes new keyword for investors. Praveg caught shareholder’s attention as it had last month received a work order for the development of operation, maintenance and management of atleast 50 tents at Lakshadweep’s island. The resorts will also offer commercial activities like scuba diving, destination weddings, corporate functions etc. Small cap soars 43% in 3 days. It is known for its luxury resorts in tourist places. During the day the stock rallied 17% to hit an all time high of Rs. 1,187.95" |
- What commercial activities would the resorts offer?
- State the quality of a factor of production highlighted above.
- Define price elasticity of demand.
- State the doctrine of Laissez faire.
Define the term price elasticity of demand.
With the help of a diagram, explain the Relatively elastic demand curve.
Price elasticity of demand shows:
What is meant by cross elasticity of demand?
