Identify the coefficient of price-elasticity of demand when the percentage incre

Sail E0 Webinar

Question

Identify the coefficient of price-elasticity of demand when the percentage increase in the quantity of a commodity demanded is smaller than the percentage fall in its price

Options:

A . Equal to one

B . Greater than one

C . Small than one

D . Zero

Answer: Option C
The coefficient of price-elasticity of demand is smaller than one when the percentage increase in the quantity of a commodity demanded is smaller than the percentage fall in its price.

Was this answer helpful ?

Next Question

Submit Solution

More Questions on This Topic :

Question 1. Which is the first-order condition for the profit of a firm to be maximum?....

Question 2. The most efficient scale of production of a firm is where....

Question 3. Economic problems arise because....

Question 4. In the short run, when the output of a firm increases, its average fixed cost....

Question 5. A firm should shut down in the short run if it is not covering its....

Question 6. Elinor Ostrom and Oliver Williamson are the Nobel Prize Laureates in Economics in 2009. Do you know in which year was Fr....know in which year was Francois Quesnay's Tableu Economique published?

Question 7. Risks in the business arise because of....

Question 8. Indifference curves are convex to the origin because....

Question 9. Standard of living of a country can be raised if it increases....

Question 10. According to Malthus, population increases by progression of which kind?....

Chapter 1 - GLOBAL STEEL SCENARIO & INDIAN STEEL INDUSTRY Part 1 : (13-04-2024) INDUSTRY AND COMPANY AWARENESS (ICA)

Direction Sense Test Part 1 Reasoning (Hindi)

Chapter 1 - RMHP / OHP / OB & BP Part 1 : (14-02-2024) GPOE

Cube & Cuboid Part 1 Reasoning (Hindi)

Data Interpretation (DI) Basic Concept Reasoning (Hindi)

Counting Figures Part 1 Counting Of Straight Lines Reasoning (Hindi)

Sail E0 free webinar Webinars

Real Numbers Part 7 Class 10 Maths

Real Numbers Part 1 Class 10 Maths

Polynomials Part 1 Class 10 Maths

Pie Chart - Test Paper 1 Data Interpretation Reasoning & DI

Tabulation - Test Paper 2 Data Interpretation Reasoning & DI

Test Paper 1 Direction Sense Test Reasoning & DI

ICA , RDIC,GFM Free Modal Test Paper - Non - Technical Branch Old Syllabus 2022 - SAIL Junior Officer E0

GFM Combined 1 Free Revision Test SAIL JO E-0