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Chapter 3 - (B) ELASTICITY OF DEMAND [Latest edition] Q.1. Complete the following statement

Balbharati solutions for Economics HSC 12th Standard Maharashtra State Board 

 

Chapter 3 - (B) ELASTICITY OF DEMAND [Latest edition]


Q.1. Complete the following statement:

 

Price elasticity of demand on a linear demand curve at the X-axis is ________.

zero

one

infinity

less than one



Price elasticity of demand on a linear demand curve at the Y-axis is ________.

zero

one

infinity

greater than one



Demand curve is parallel to X-axis, in the case of ______.

perfectly elastic demand

perfectly inelastic demand

relatively elastic demand

relatively inelastic demand

 

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

flatter

steeper

rectangular

Horizontal

 

Ed = 0 in case of ______.

luxuries

normal goods

necessities

comforts