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प्रश्न
Arrange the following coefficients of price elasticity of demand in ascending order:
(−) 3.1, (−) 0.2, (−) 1.1
उत्तर
The following coefficients of price elasticity of demand are arranged in ascending order as follows:
(-) 0.2, (-) 1.1, (-) 3.1
Minus sign only shows the inverse relationship between the price and quantity demanded.
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संबंधित प्रश्न
Explain the factors determining the elasticity of demand.
What will be the effect of 10 percent rise in price of a good on its demand if price elasticity of demand is (a) Zero, (b)-1, (c)-2.
When the price of good rises from Rs10 to Rs12 per unit, its demand falls from 25 units to 20 units. What can you say about price elasticity of demand of the good through the 'expenditure approach'?
Discuss any four factors affecting price elasticity of demand.
A consumer spends Rs 400 on a good priced at Rs 4 per unit. When the price rises by 25 percent, the consumer continues to spend Rs 400. Calculate the price elasticity of demand by percentage method.
Define or explain the following concept.
Unitary elastic demand.
What do you mean by a normal good?
What do you mean by an ‘inferior good’? Give some examples.
Consider the demand curve D(p) = 10 − 3p. What is the elasticity at price `5/3` ?
Fill in the blank with appropriate alternatives given below:
Income elasticity of demand for inferior goods is __________.
State whether the following statement is TRUE and FALSE.
Unitary Elastic Demand rarely occurs in practice.
Answer the following question.
Draw diagrams to show the elasticity of demand when it is:
(i) Greater than one
(ii) Less than one
(iii) Unity
Define price elasticity of demand.
Answer the following question.
If the price of a commodity rises by 40% and its quantity demanded falls from150 units to 120 units, calculate the coefficient of price elasticity of demand for the commodity.
The concept of elasticity of demand was introduced by
Elasticity of demand is equal to one indicates
Elasticity of the demand is available when:
Assertion (A): The elastic demand curve for luxuries is flatter than normal.
Reason (R): The coefficient of Elasticity ranges between 0 and 1.
When change in price is greater than the change in quantity demand it is a case of elastic demand.
