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 When percentage change in quantity demanded is equal to change in price the demand curve is?When percentage change in quantity demanded is equal to the percentage change in price, the elasticity of demand is unitary elastic.
When a percentage change in demand supply is equal to the percentage change in price it is said to be?Unitary elasticity means that a given percentage change in price leads to an equal percentage change in quantity demanded or supplied.
When percentage change in quantity demanded is lessthan percentage change in price the demand curve is?Answer and Explanation: 1) When the percentage change in the quantity demanded is less than the percentage change in price, then demand is C. inelastic.
When percentage change in quantity demanded is less than percentage change in price the demand curve is flatter steeper rectangular hyperbola horizontal?Less than unitary elastic demand (or inelastic demand) is one which the percentage change in quantity demanded is less than that of percentage change in the price. The value of coefficient of price elasticity of demand will be less than one, i.e., ed< 1. In this case the demand curve is steeper.
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When percentage change in quantity demanded is equal to changes in price the demand curve is * 1 point steeper flatter rectangular hyperbola vertical?
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