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प्रश्न
Why is market demand curve more elastic than an individual demand curve?
उत्तर
Because for a given change in price, change in market demand is more than the individual demand.
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संबंधित प्रश्न
Assertion (A): The recent war in Israel will impact key imports to India, which include rough cut and polished diamonds.
Reasoning (R): Diamonds are luxury goods having relatively elastic demand.
Which is the implication of a horizontal demand curve?
The demand curve is horizontal
What will be the value of price elasticity in this case?
The demand curve is vertical
What will be the value of price elasticity in this case?
Match the following and select the correct option.
| Column I | Column II | ||
| (i) | Perfectly elastic demand | A. | Ed = 0 |
| (ii) | Perfectly inelastic demand | B. | Ed = ∞ |
| (iii) | Relatively elastic demand | C. | Ed < 1 |
| (iv) | Relatively inelastic demand | D. | Ed > 1 |
Match the following:
| Column I | Column II |
| A. Perfectly Elastic | (i) Ed = 0 |
| B. Perfectly Inelastic | (ii) Ed = infinity |
| C. Highly Elastic | (iii) Ed < I |
| D. Less Elastic | (iv) Ed > I |
When is the demand for a commodity said to be perfectly inelastic?
Would the elasticity of demand in the following case be unity, less than unity or greater than unity?
A rise in the price of a commodity reduces the total expenditure.
A perfectly elastic demand curve is parallel to the X-axis. Why or why not?
Explain the different types of price elasticity of demand.
