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प्रश्न
If the price of a commodity and total expenditure on that commodity change in the same direction, the price elasticity of demand will be ______.
पर्याय
Greater than one
Less than one
Equal to zero
Equal to infinity
उत्तर
If the price of a commodity and total expenditure on that commodity change in the same direction, the price elasticity of demand will be Less than one.
Explanation:
When demand is inelastic, there is a direct relationship between price and total consumer expenditure; thus, demand elasticity is less than one.
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संबंधित प्रश्न
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| 3. Perfectly elastic supply curve | (c) Horizontal line parallel to X-axis. |
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