Advertisements
Advertisements
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 refrigerators
उत्तर
Refrigerator is not an essential item of consumption for the common man. So, its demand will be relatively elastic.
APPEARS IN
संबंधित प्रश्न
Explain the total outlay method of measuring elasticity of demand?
Complete the correlation :
Ratio method : Ed = `(%ΔQ)/(%ΔP)` :: _____ : Ed = `"Lower segment"/"Upper segment"`
Complete the correlation:
Ratio method : Ed = `\(%Delta "Q") /(%\Delta "P"` :: ______ : Ed = `\("Lower segment")/("Upper segment")`
If demand increases by 50% due to an increase in price by 75%, calculate the price elasticity of demand.
As a result of a 5% increase in price, the demand for commodity X increases by 12%. The price elasticity of demand will be ______.
State the formula for calculating the price elasticity of demand using the percentage method.
The price of milk rises from ₹ 26.00 to ₹ 30.00 per litre and its demand falls from four litres per day to two litres per day. Calculate the elasticity demand for milk.
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.
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 diesel and petrol
