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प्रश्न
What is unitary elastic demand? Draw a diagram to illustrate it.
उत्तर
When a proportional change in price causes an equivalent proportional change in demand. The coefficient for unitary elastic demand is 1.
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संबंधित प्रश्न
Draw a diagram showing a perfectly elastic demand curve.
Analyse the given graphs and identify the type of elasticity of demand of:
- Picture 1
- Picture 2
Under what conditions does the supply of good exhibit unitary elasticity?
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Study the statement given below and state whether demand will be elastic or inelastic, citing reasons for your answer.
Demand for cigarettes by a habitual smoker.
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Explain the different types of price elasticity of demand.
What is the price elasticity of demand for the following demand curve?
Straight line demand curve parallel to X-axis.
