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प्रश्न
With the help of a diagram, explain the Unitary elastic demand curve.
उत्तर
Unitary elastic demand curve:
When the extension or contraction in quantity demanded is equally proportional to price changes, it is a case of unitary elastic demand. The demand for commodities of comforts, e.g., electric fan, umbrella, raincoat, torch, etc., belong to this class.
संबंधित प्रश्न
Degree of responsiveness of a change in quantity demanded to a change in the income of the consumer −
Identify & explain the concept from the given illustration.
At Amulya Café, the demand for tea increased by 5% due to a 10% rise in the price of coffee.
Distinguish Between
Price elasticity of demand and 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.
Explain any three types of price elasticity of demand with the help of diagrams.
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 Relatively 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 −1?
