Elasticity of Demand - 1

Demand curve is parallel to X axis, in case of _______

• Perfectly elastic demand

• Perfectly inelastic demand

• Relatively elastic demand

• Relatively inelastic demand

Rectangular hyperbola : ____________ :: Steeper demand curve :     Relatively inelastic demand.

• Unitary elastic demand

• Perfectly elastic demand

• Relatively inelastic demand

• Relatively elastic demand

Elasticity resulting from infinite change in quantity demanded.

• Relatively inelastic demand

• Perfectly inelastic demand

• Perfectly elastic demand

• Relatively elastic demand

_________ explained the concept of elasticity of demand.

• Pigou

• Dr. Alfred Marshall

• Adam Smith

• Hicks

The numerical value for relatively inelastic demand is _________.

• Ed = 0

• Ed = 1

• Ed >1

• Ed < 1

The demand for salt is ________.

• infinite elastic

• elastic

• unitary elastic

• inelastic

Following are the determinants for elasticity of demand:

• Nature of commodity

• Habits

• Durability

• Availability of substitutes

When it is impossible to postpone the consumption the demand is __________

• Relatively elastic

• Relatively inelastic

• Perfectly elastic

• Unitary elastic

A tangent is formed in the non-linear demand curve.

• Agree

• Disagree

Degree of responsiveness of a change in quantity demanded of one commodity due to change in the price of another commodity.

• Cross Elasticity of Demand

• Income Elasticity of Demand

• Price Elasticity of Demand