Uh-Oh! That’s all you get for now. Show
We would love to personalise your learning journey. Sign Up to explore more. Sign Up or Login Skip for now Uh-Oh! That’s all you get for now. We would love to personalise your learning journey. Sign Up to explore more. Sign Up or Login Skip for now No worries! We‘ve got your back. Try BYJU‘S free classes today! No worries! We‘ve got your back. Try BYJU‘S free classes today! Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses No worries! We‘ve got your back. Try BYJU‘S free classes today! Solution The correct option is C Both 1 and 2Explanation:Perfectly elastic demandPerfectly elastic demand is said to happen when a little change in price leads to an infinite change in quantity demanded.A small rise in price on the part of the seller reduces the demand to zero.In such a case the shape of the demand curve will be a horizontal straight line.Perfectly Inelastic demand:Perfectly inelastic demand is the opposite of perfectly elastic demand.Any rise or fall in the price of a commodity, the quantity demanded remains the same.The elasticity of demand in this case will be equal to zero.Solve Textbooks Question Papers Uh-Oh! That’s all you get for now. We would love to personalise your learning journey. Sign Up to explore more. Sign Up or Login Skip for now Uh-Oh! That’s all you get for now. We would love to personalise your learning journey. Sign Up to explore more. Sign Up or Login Skip for now When the percentage decrease in the price of a good is greater than the percentage increase in its quantity demanded, the elasticity of demand for it is more than 1. No worries! We‘ve got your back. Try BYJU‘S free classes today! When the percentage increase in the price of a good is greater than the percentage decrease in its quantity demanded, the elasticity of demand for it is less than 1. Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses When the percentage decrease in the price of a good is greater than the percentage increase in its quantity demanded, the elasticity of demand for it is less than 1. No worries! We‘ve got your back. Try BYJU‘S free classes today! When the percentage decrease in the price of a good is the same as the percentage increase in its quantity demanded, the elasticity of demand for it is equal to 1. No worries! We‘ve got your back. Try BYJU‘S free classes today!
Solution The correct option is BWhen the percentage increase in the price of a good is greater than the percentage decrease in its quantity demanded, the elasticity of demand for it is less than 1.eD=% changein q% changein p (adsbygoogle = window.adsbygoogle || []).push({}); You can see that option B is incorrect.Solve Textbooks Question Papers Which of the following statement about elasticity of demand is correct?Elasticity of demand explains the degree of responsiveness of demand to change in price- this is the only correct statement among the following since elasticity of demand is calculated by dividing the proportionate change in quantity demanded by the proportionate change in price. Was this answer helpful?
Which of the following statements about the price elasticity of demand is correct the absolute value of the elasticity of demand ranges from zero to one?C The absolute value of the elasticity of demand ranges from 0 to 1. The demand is more elastic, the smaller the percentage of the consumer's budget the item takes up. The correct answer is B, demand is more elastic in the long run than it is in the short run.
Which of the following statements with regards to price elasticity is correct?d. The statement is true as the value of the slope of the demand curve is the same as the value of the elasticity. Given the change in price level along the demand curve, the slope determines the extent of change in the quantity demanded.
What is true about price elasticity of demand?The price elasticity of demand is the ratio of the percentage change in quantity to the percentage change in price. As we will see, when computing elasticity at different points on a linear demand curve, the slope is constant—that is, it does not change—but the value for elasticity will change.
|
Which of the following statement about the price elasticity of demand is correct?
zusammenhängende Posts
Urheberrechte © © 2024 de.ketajaman Inc.
