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प्रश्न
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.
उत्तर
| Price (₹) | Demand (Lt.) |
| 26 | 4 |
| 30 | 2 |
Ed = `(ΔQ)/(ΔP)xxP/Q`
= `2/4xx26/4`
= 3.25
There is a high elasticity of demand for milk.
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संबंधित प्रश्न
Complete the correlation:
Straight-line demand curve : Linear demand curve :: _______ : non-linear demand curve.
Explain the total outlay method of measuring elasticity of demand?
Complete the correlation:
Ratio method : Ed = `\(%Delta "Q") /(%\Delta "P"` :: ______ : Ed = `\("Lower segment")/("Upper segment")`
As a result of a 5% increase in price, the demand for commodity X increases by 12%. The price elasticity of demand will 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`
Select the commodities from the following which have inelastic demand:
A consumer purchased 10 units of a commodity when its price was ₹ 5 per unit. He purchases 12 units of the commodity when price falls to ₹ 4 per unit. Calculate the price elasticity of demand for the commodity.
With the help of a diagram, explain the condition when Ep = 1.
Study the statement given below and state whether demand will be elastic or inelastic, citing reasons for your answer.
A consumer postpones the purchase of a refrigerator till the off-season sale.
Ratio method : Ed = `(%ΔQ) /(%ΔP)` ______ :: Ed = `("Lower segment")/("Upper segment")`
