Advertisements
Advertisements
Question
What is the price elasticity of demand for the following demand curve:
Rectangular hyperbola.
Solution
Ed = 1
APPEARS IN
RELATED QUESTIONS
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.
Degrees of price elasticity of demand is of ______ types.
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?
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.
Would the elasticity of demand in the following case be unity, less than unity or greater than unity?
A fall in the price of commodity, the total expenditure remains the same.
When is the demand of a commodity said to be inelastic?
Indicate the degree of elasticity of demand of the following demand curve.
What is the price elasticity of demand for the following demand curve:
Straight line demand curve parallel to Y-axis.