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प्रश्न
From the following state whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.
demand for electricity
उत्तर
Electricity has alternative uses, hence, its demand will be elastic.
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संबंधित प्रश्न
Find the odd word
Method of measuring price elasticity of demand -
Assertion (A): Total expenditure method measures elasticity of demand at a given point on the demand curve.
Reasoning (R): Total expenditure refers to the product of price and quantity demanded.
Complete the correlation:
______ : Straight line demand curve : : Non-linear demand curve : Curved line demand curve
Ratio method: Ed = `(%Delta"Q") /(%Delta"UP")`:: ______: Ed = `("Lower segment")/ ("Upper segment")`
The coefficient of price elasticity of a good is 0.8, its demand will said to be ______.
Assertion (A): Suppose that a 2 per cent drop in the price of chocolate causes a 2 per cent increase in quantity demanded. This case is termed unit elasticity.
Reason (R): In this example, Ed is exactly 1 (or unity). Ed = `2/2=1`
When is the demand for a commodity is said to be elastic?
Study the table given below and state whether demand is elastic or inelastic. Give reasons for your answer.
| Price in (₹) | Total outlay (₹) |
| 5 | 25 |
| 3 | 18 |
With the help of a diagram, explain the condition when Ep = 1.
What is meant by unitary elastic demand?
