MCQ Show
Complete the following statement: When the percentage change in quantity demanded is more than the percentage change in price, the demand curve is ______. Options
Advertisement Remove all ads SolutionWhen the percentage change in quantity demanded is more than the percentage change in price, the demand curve is flatter. Concept: Types of Price Elasticity of Demand Is there an error in this question or solution? Advertisement Remove all ads Chapter 3.2: Elasticity of Demand - Exercise [Page 34] Q 1. (4)Q 1. (3)Q 1. (5) APPEARS INBalbharati Economics 12th Standard HSC Maharashtra State Board Chapter 3.2 Elasticity of Demand Advertisement Remove all ads What is price elasticity when percentage change in quantity demanded is less than percentage change in price?If the percentage change in the quantity demanded is less than the percentage change in price, the PED is less than 1. A PED that is less than 1 (in absolute terms) is considered "inelastic."
When the percentage change in quantity demanded is greater than the percentage change in price of the commodity the demand for the commodity is said to be?Own-Price Elasticity
If the percent change in the quantity demanded is greater than the percent change in the price of a good, demand is said to be price elastic or more responsive to price changes. (Example: A 1-percent change in price induces a change in quantity demanded by more than 1 percent.)
When the change in quantity demanded is greater than the price in price elasticity of demand is ?If the percentage change in quantity demanded is greater than the percentage change in price, the elasticity is greater than one and the good is classified as elastic, meaning the percentage change in quantity demanded is relatively responsive to the percentage change in price.
...
. |
What is price elasticity and percentage change in quantity demanded is more than percentage change in price?
zusammenhängende Posts
Urheberrechte © © 2024 defrojeostern Inc.
