When percentage change in quantity demanded is less than percentage change in price the demand curve is steeper?

← Prev Question Next Question →

0 votes

410 views

asked Oct 12, 2021 in Economics by RuchitaKashyap (37.0k points)

When the percentage change in quantity demanded is less than the percentage change in price, the demand curve is ………

(a) flatter 

(b) steeper 

(c) rectangular 

(d) vertical

  • elasticity of demand
  • class-12

Share It On

Please log in or register to answer this question.

1 Answer

+1 vote

answered Oct 12, 2021 by NiharPatel (38.9k points)

Correct option: (b) steeper

← Prev Question Next Question →

Find MCQs & Mock Test

  1. Free JEE Main Mock Test
  2. Free NEET Mock Test
  3. Class 12 Chapterwise MCQ Test
  4. Class 11 Chapterwise Practice Test
  5. Class 10 Chapterwise MCQ Test
  6. Class 9 Chapterwise MCQ Test
  7. Class 8 Chapterwise MCQ Test
  8. Class 7 Chapterwise MCQ Test

Related questions

0 votes

1 answer

When percentage change in quantity demanded is equal to changes in price, the demand curve is ………… (a) steeper 

asked Oct 12, 2021 in Economics by RuchitaKashyap (37.0k points)

  • elasticity of demand
  • class-12

0 votes

1 answer

When percentage change in quantity demanded is more than the percentage change in price, the demand curve is ………

asked Oct 8, 2021 in Economics by IndraniJain (35.8k points)

  • elasticity of demand
  • class-12

0 votes

1 answer

Give economic terms. 1. Elasticity resulting from changes in price does not affect demand at all.  2. Product of price and quantity demanded. 

asked Oct 12, 2021 in Economics by RuchitaKashyap (37.0k points)

  • elasticity of demand
  • class-12

0 votes

1 answer

Assertion (A) : A change in quantity demanded of one commodity due to a change in the price of other commodity is cross elasticity.

asked Oct 8, 2021 in Economics by IndraniJain (35.8k points)

  • elasticity of demand
  • class-12

0 votes

1 answer

Elasticity resulting from a proportionate change in quantity demanded due to a proportionate change in price.

asked Oct 8, 2021 in Economics by IndraniJain (35.8k points)

  • elasticity of demand
  • class-12

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

  • All categories
  • JEE (27.4k)
  • NEET (8.5k)
  • Science (739k)
  • Mathematics (240k)
  • Statistics (2.2k)
  • Environmental Science (3.6k)
  • Biotechnology (532)
  • Social Science (87.2k)
  • Commerce (54.0k)
    • Accounts (16.7k)
    • Business Studies (22.8k)
    • Economics (11.7k)
    • Entrepreneurship (1.7k)
  • Electronics (3.7k)
  • Computer (14.9k)
  • Artificial Intelligence (AI) (1.4k)
  • Information Technology (13.2k)
  • Programming (8.6k)
  • Political Science (6.4k)
  • Home Science (3.5k)
  • Psychology (3.3k)
  • Sociology (5.5k)
  • English (54.2k)
  • Hindi (16.3k)
  • Aptitude (23.7k)
  • Reasoning (14.6k)
  • GK (25.7k)
  • Olympiad (527)
  • Skill Tips (72)
  • CBSE (703)
  • RBSE (49.1k)
  • General (56.7k)
  • MSBSHSE (1.8k)
  • Tamilnadu Board (59.3k)
  • Kerala Board (24.5k)

...

When percentage change in quantity demanded is less than the percentage change price the demand curve is?

If the percentage change in quantity demanded is less than the percentage change in price, demand is said to be price inelastic, or not very responsive to price changes.

When percentage change in quantity demanded is less than percentage change in price the demand curve is flatter steeper rectangular hyperbola horizontal?

Less than unitary elastic demand (or inelastic demand) is one which the percentage change in quantity demanded is less than that of percentage change in the price. The value of coefficient of price elasticity of demand will be less than one, i.e., ed< 1. In this case the demand curve is steeper.

When the percentage change in quantity demanded is less than the percentage change in the price of the product demand is said to be inelastic?

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 percentage change in quantity demanded is more than the percentage change in price than demand curve is flatter steeper rectangular horizontal?

Explanation : When proportionate or percentage change in quantity demanded is more than proportionate change it its price, then it is called as Relatively Elastic Demand. Demand curve is called as flatter curve. Question 2.

Toplist

Neuester Beitrag

Stichworte