Question : When a good's demand is less elastic,
a) Price change as a percentage of demand as a percentage of price change
b) Change in the amount demanded as a percentage of price change
c) Price change by percentage equals demand by percentage changed
d) Demand is more steeply curved.
Option 1: A and B only
Option 2: B and C only
Option 3: A and D only
Option 4: All of the above

Question

Question : When a good's demand is less elastic,
a) Price change as a percentage of demand as a percentage of price change
b) Change in the amount demanded as a percentage of price change
c) Price change by percentage equals demand by percentage changed
d) Demand is more steeply curved.

Option 1: A and B only

Option 2: B and C only

Option 3: A and D only

Option 4: All of the above

Team Careers360 · Accepted Answer

Correct Answer: A and D only

Solution : A demand or supply curve that is inelastic will result in a lesser percentage change in quantity demanded or supplied for a given change in price.
In this case demand curve is steeper.
Hence option c is the correct answer.

Exams

Colleges

Predictors

Resources

Quick links

B.Tech CompanionUse Now Your one-stop Counselling package for JEE Main, JEE Advanced and BITSAT

Exams

Colleges & Courses

Predictors

Resources

Exams

Colleges

Predictors & E-Books

Resources

Engineering Preparation

Medical Preparation

Online Courses

Products

Exams

Colleges

Resources

Exams

Colleges

Predictors & Articles

Resources

Exams

Colleges

Predictors

Resources

NEET CompanionUse NowYour one-stop Counselling package for NEET, AIIMS and JIPMER

Exams

Colleges

Upcoming Events

Resources

Exams

Colleges

Resources

Quick Links

Top Streams

Specializations

Resources

Top Providers

Exams

Colleges

Resources

Diploma Colleges

Exams

Colleges

Resources

Exams

Resources

Top Courses & Careers

Colleges

Exams

Upcoming Events

Resources

Other Exams

Exams

Colleges

Top Countries

Student Visas

Exams

Top Schools

Products & Resources

NCERT Study Material

Related Questions

Question : The price elasticity of demand is calculated as the:

Question : The price elasticity of demand is calculated as the percentage change in:

Question : Which of the following is an assumption made while drawing the demand curve a:The demand curve must be linear b:The price of substitutes should not change c: The quantity demanded should not change d: The price of the commodity should not

Question : EXCEPT for the one, the following are the causes of a shift in demand: A: Change in income B: Change in price C: Change in prices of substitutes D: Change in fashion

Question : The quantity demanded of a good or service divided by the price change in percentage form the price elasticity of demand.

Trending Articles/News

Sign In/Sign Up

Download the Careers360 App on your Android phone

B.Tech CompanionUse Now
Your one-stop Counselling package for JEE Main, JEE Advanced and BITSAT

NEET CompanionUse Now
Your one-stop Counselling package for NEET, AIIMS and JIPMER

Question : Which of the following is an assumption made while drawing the demand curve
a:The demand curve must be linear
b:The price of substitutes should not change
c: The quantity demanded should not change
d: The price of the commodity should not

Question : EXCEPT for the one, the following are the causes of a shift in demand:
A: Change in income
B: Change in price
C: Change in prices of substitutes
D: Change in fashion