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 the percentage change in quantity demanded is more than the percentage change in price the demand curve is * 1 point rectangular steeper flatter horizontal?Solution. When the percentage change in quantity demanded is more than the percentage change in price, the demand curve is flatter.
When the percentage change in quantity demanded is less than 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 demand is same as the percentage change in price then it is said?When percentage change in quantity demanded is equal to the percentage change in price, the elasticity of demand is unitary elastic.
When the proportion of change in quantity demanded is greater than the change in it's price the demand is said?Elastic demand or supply curves indicate that the quantity demanded or supplied responds to price changes in a greater than proportional manner. An inelastic demand or supply curve is one where a given percentage change in price will cause a smaller percentage change in quantity demanded or supplied.
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When percentage change in quantity demanded is more than the percentage change in price the situation is called?
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