Economics miscellaneousEasy Questions Show
EconomicsEconomics miscellaneous
Correct Option: BWhen the percentage change in quantity demanded is less than the percentage change in price, then the demand for the commodity is said to be inelastic. Price elasticity of demand refers to the degree of responsiveness of quantity demanded to change in price.
 Your comments will be displayed only after manual approval. When change in demand is less than change in price is called as?Example of Price Elasticity of Demand
Finally, if the quantity purchased changes less than the price (say, -5% demanded for a +10% change in price), then the product is deemed inelastic.
When change on demand is less than change in price elasticity will be?For example, changes in supply or demand to the change in price, or changes in demand to changes in income. If demand for a good or service is relatively static even when the price changes, demand is said to be inelastic, and its coefficient of elasticity is less than 1.0.
When percentage change in quantity demanded is more than the percentage change in price then demand curve is *?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 demand is equal to the percentage change in price?When percentage change in quantity demanded is equal to the percentage change in price, the elasticity of demand is unitary elastic.
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When percentage change in demand is less than percentage change in price demand is said to be?
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