In case of a straight line demand curve meeting the two axes, the price elasticity of demand at the midpoint of the line would be:

Identify the factor which generally keeps the price elasticity of demand for a good low

The price elasticity of demand is defined as the responsiveness of:

Price elasticity of demand explains qualitative relationship between price and demand.

On a demand curve where it touches X-axis elasticity of demand is Infinity?

If percentage change in demand is greater than percentage change in price, it will be less elastic.

Suppose, there was 4% decrease in the price of a good and as a result, the expenditure on the goods increased by 2%. What can you say about the elasticity of demand?

If ED < 1, in which portion the point would be located on a straight line demand curve?

How will a rich household's demand for low-quality rice respond to an increase in income of the household?

If demand is elastic, how will an increase in price affect the total revenue? Explain.

Suppose the price elasticity of demand for a good is -0.2. If there is a 5% increase in the price of the good, by what percentage will the demand for the good go down?

The demand for a goods falls to 500 units in response to rise in price by Rs 10. If the original demand was 600 units at the price of Rs 30, calculate price elasticity of demand.

A consumer spends Rs 100 on a good priced at Rs 4 per unit. When its price falls by 25 percent, the consumer spends Rs 75 on the good. Calculate price elasticity of demand by percentage method.

The market demand for a good at Rs 5 per unit is 50 units. Due to increase in price, the market demand falls to 30 units. Find out the new price if the price elasticity of demand is (-)2.

A consumer buys 18 units of a good at a price of Rs 9 per unit. The price elasticity of demand for the good is (-)1. How many units the consumer will buy at a price of Rs 10 per unit? Calculate.

The demand for a good rises by 20 percent as a result· of fall in its price. Its price elasticity of demand is (-)0.8. Calculate the percentage fall in price.

A 5 percent fall in the price of a good, raises its demand from 300 units to 318 units. Calculate its price elasticity of demand.

Which one of the following commodities have inelastic demand? Salt, a particular brand of lipstick, medicine and school uniform.

"Elasticity of demand at a common point will be more on a flatter curve than on a steeper curve".Prove