Advertisements
Advertisements
Question
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.
Solution
| Elastic | Inelastic |
| car | textbooks |
| milk | cigarettes |
| coal | diamonds |
| Dawat basmati rice | seasonal vegetables |
| colour T.V. | needles |
APPEARS IN
RELATED QUESTIONS
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 = `(%triangle"Q")/(%triangle"P")` :: _______ : Ed = `"Lower segment"/"Upper segment"`
Complete the correlation:
Ratio method : Ed = `\(%Delta "Q") /(%\Delta "P"` :: ______ : Ed = `\("Lower segment")/("Upper segment")`
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 ______.
When is the demand for a commodity is said to be elastic?
What is meant by unitary elastic demand?
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 school uniform
