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प्रश्न
What will be the effect of 10 percent rise in price of a good on its demand if price elasticity of demand is −2?
उत्तर
20 percent fall in demand
संबंधित प्रश्न
Complete the following statement:
Price elasticity of demand on a linear demand curve at the Y-axis is equal to ________.
Give economic term:
Degree of responsiveness of quantity demanded to change in income only.
Give economic terms:
Degree of responsiveness of a change in quantity demanded of one commodity due to a change in the price of another commodity.
With the help of a diagram, explain the Relatively inelastic demand curve.
Define income elasticity of demand.
Assertion (A): A change in quantity demanded of one commodity due to a change in the price of other commodity is cross elasticity.
Reasoning (R): Changes in consumers income leads to a change in the quantity demanded.
Assertion (A): A change in quantity demanded of one commodity due to a change in the price of other commodity is cross elasticity.
Reasoning (R) : Changes in consumers income leads to a change in the quantity demanded.
Assertion (A): A change in quantity demanded of one commodity due to a change in the price of other commodity is cross elasticity.
Reasoning (R): Changes in consumers income leads to a change in the quantity demanded.
Assertion (A): A change in quantity demanded of one commodity due to a change in the price of other commodity is cross elasticity.
Reasoning (R): Changes in consumers income leads to a change in the quantity demanded.
Assertion (A): A change in quantity demanded of one commodity due to a change in the price of other commodity is cross elasticity.
Reasoning (R): Changes in consumers income leads to a change in the quantity demanded.
Assertion (A): A change in quantity demanded of one commodity due to a change in the price of other commodity is cross elasticity.
Reasoning (R): Changes in consumers income leads to a change in the quantity demanded.
Define the term price elasticity of demand.
If commodity X and Y are complementary goods , what will be the cross elasticity of demand?
If prices of salt and coffee increase by the same proportion, will their quantity demanded behave in the same manner? Explain by giving reasons.
With the help of a diagram, explain the Unitary elastic demand curve.
What will be the effect of 10 percent rise in price of a good on its demand if price elasticity of demand is zero?
How is the price elasticity of demand of a commodity is affected by the number of its substitutes.
Given values of price elasticities of demand, less 'elastic' demand is ______.
