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

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

The price elasticity of demand for hamburger is

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

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?

Define perfectly inelastic demand.

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

Demand for salt is nearly perfectly inelastic. If the government imposes a tax of 10% on salt what shall be the effect on quantity demanded of salt? Why?

What is price elasticity of demand for life saving drugs?

Explain price elasticity of demand.

Consider the demand for a good. At price Rs 4, the demand for the good is 25 units. Suppose price of the good increases to Rs 5, and as a result, the demand for the good falls to 20 units. Calculate the price elasticity?

Consider the demand curve D(P) = 10 - 3p. What is the elasticity at price 5/3?

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?

When price of a good is Rs 7 per unit, a consumer buys 12 units. When price falls to Rs 6 per unit he spends Rs 72 on the good. Calculate price elasticity of demand by using the percentage method. Comment on the likely shape of demand curve based on this measure of elasticity.

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.