Question

21.

If change in the demand of the commodity is proportionate to the change in price, the demand of

the commodity will be……………………

a)Unit Elasticity b) perfectly elastic c) perfectly inelastic d) less than unit elasticity​

Answer 1

Answer:

If change in the demand of the commodity is proportionate to the change in price, the demand of the commodity is known as unit elasticity.

Explanation:

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Answer 2

If change in the demand of the commodity is proportionate to the change in price, the demand of  the commodity will be unit elasticity. Option (a) is correct.

Explanation:

• In unit elasticity, the ratio of the change in demand and the change in price is one.
• With the respect to price the quantity of the product demanded changes is the price elasticity of demand.
• If the quantity purchased changes less than the price then the product is termed inelastic price of demand.
• The price elasticity of supply means percentage change in quantity supplied divided by the percentage change in price.

To Learn More...

1.If as a result of change in price of the commodity, there is no change in the demand of the commodity, then the demand of that commodity is said to be: Perfectly Elastic ਪੂਰਨ ਲੋਚਦਾਰ पूर्ण लचकदार

Perfectly Inelastic ਪੂਰਨ ਬੇਲੋਚਦਾਰ पूर्ण बेलचकदार

Unitary Elastic ਇਕਾਈ ਲੋਚਦਾਰ इकाई लचकदार

More than unitary Elastic

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2.calculate the price elasticity of demand for a commodity and its price increases by 25% and quantity demanded Falls from 150 units to 120 units​

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