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Question
Complete the correlation:
Straight-line demand curve : Linear demand curve :: _______ : non-linear demand curve.
Solution
Straight-line demand curve : Linear demand curve :: Convex demand curve : non-linear demand curve.
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RELATED QUESTIONS
The price elasticity of demand on a linear demand curve at the X-axis is ______.
Explain the total outlay method of measuring elasticity of demand?
Find the odd word
Method of measuring price elasticity of demand -
Assertion (A): Total expenditure method measures elasticity of demand at a given point on the demand curve.
Reasoning (R): Total expenditure refers to the product of price and quantity demanded.
- Which method of measuring elasticity is used in above diagram? (1m)
- Mention the type of elasticity at point ‘C’? (1m)
- Find out the elasticity at point ‘D’ by applying formula (2m)
Explain the Total expenditure method and Geometric method of measuring price elasticity of demand.
Explain the Ratio method of measuring price elasticity of demand.
Explain the Ratio or percentage method of measuring price elasticity of demand.
Complete the correlation:
Ratio method : `"Ed"= (%\Delta"Q")/(%\Delta"P") :: "______" : "Ed" = "Lower segment"/("Upper segment"`
Complete the correlation :
Ratio method : Ed = `(%Delta"Q")/(%Delta"P")` :: ______ : Ed = `"Lower segment"/"Upper segment"`
Ratio method : Ed = `(%ΔQ)/(%ΔP)` :: ______ : Ed = `("Lower segment")/("Upper segment")`
Complete the correlation:
Ratio method : Ed = `(%ΔQ)/(%ΔP)` :: ______ : Ed = `"Lower segment"/"Upper segment"`
Complete the correlation :
Ratio method : Ed = `(%ΔQ)/(%ΔP)` :: _____ : Ed = `"Lower segment"/"Upper segment"`
Complete the correlation:
Ratio method : Ed = `(%triangle"Q")/(%triangle"P")` :: _______ : Ed = `"Lower segment"/"Upper segment"`
Complete the correlation:
Ratio method : Ed = `\(%Delta "Q") /(%\Delta "P"` :: ______ : Ed = `\("Lower segment")/("Upper segment")`
Ratio method : Ed = `(%DeltaQ)/(%DeltaP)` :: ______ : Ed = `("Lower segment")/("Upper segment")`
If demand increases by 50% due to an increase in price by 75%, calculate the price elasticity of demand.
Which of the following goods have inelastic demand?
The coefficient of price elasticity of a good is 0.8, its demand will said to be ______.
The coefficient of price elasticity of a good is 0.8, its demand will said to be ______.
As a result of a 5% increase in price, the demand for commodity X increases by 12%. The price elasticity of demand will be ______.
The price of a commodity goes up from ₹ 26 to ₹ 30 as a result of which demand falls from 4 units to 2 units, the price elasticity of demand is ______.
If the price of a commodity decreases from ₹ 70 per unit to ₹ 60 per unit and the quantity demanded remains the same, then the price elasticity of demand for that commodity will be ______.
If the percentage increase in the quantity of a commodity is smaller than the percentage fall in its price, the coefficient of price elasticity of demand is ______.
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`
When is the demand for a commodity is said to be elastic?
Select the commodities from the following which have inelastic demand:
Is the demand for the following commodities elastic or inelastic?
- Salt
- Foodgrains
- Petrol
- Needles
- Green vegetables
- Four Square cigarettes
- Water
When the price of a commodity falls by 80%, the quantity demanded increases by 100%. Find out its price elasticity of demand.
Ed = `100/80 = 1.25`
State the formula for calculating the price elasticity of demand using the percentage method.
The price of a commodity falls from ₹15 to ₹10. As a result, demand rises from 100 units to 150 units, Use the expenditure method to find the price elasticity of demand.
Study the table given below and state whether demand is elastic or inelastic. Give reasons for your answer.
| Price in (₹) | Total outlay (₹) |
| 5 | 25 |
| 3 | 18 |
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.
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.
When % change in demand is greater than % change in price, it is a case of inelastic demand. Write true or false. Give reason.
With the help of a diagram, explain the condition when EP < 1.
Arrange the following coefficients of price elasticity of demand in ascending order.
−0.87, −0.53, −31 , −0.80
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.
State whether demand for the following goods is elastic or inelastic?
- car
- textbooks
- cigarettes
- diamonds
- milk
- seasonal vegetables
- coal
- Dawat basmati rice
- needles
- colour T.V.
From the following state whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.
demand for refrigerators
From the following state whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.
demand for cigar by a chain smoker
From the following state whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.
demand for diesel and petrol
From the following state whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.
demand for personal computers
From the following state whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.
Demand for precious stones and costly jewellery
Ratio method : Ed = `(%ΔQ) /(%ΔP)` ______ :: Ed = `("Lower segment")/("Upper segment")`
