MCQ Show
Complete the following statement: When the percentage change in quantity demanded is more than the percentage change in price, the demand curve is ______. Options
Advertisement Remove all ads SolutionWhen the percentage change in quantity demanded is more than the percentage change in price, the demand curve is flatter. Concept: Types of Price Elasticity of Demand Is there an error in this question or solution? Advertisement Remove all ads Chapter 3.2: Elasticity of Demand - Exercise [Page 34] Q 1. (4)Q 1. (3)Q 1. (5) APPEARS INBalbharati Economics 12th Standard HSC Maharashtra State Board Chapter 3.2 Elasticity of Demand Advertisement Remove all ads When the percentage change in the quantity demanded is greater than the percentage change in price then price elasticity of demand is quizlet?Demand is elastic when the percentage change in quantity demanded is greater than the percentage change in price, So the price elasticity is greater than 1 in absolute value.
When the percentage change in quantity demanded is greater than the percentage change in price in absolute value then we can say that the demand is?The absolute value of the ratio of the percentage change in quantity demanded to the percentage change in price would be greater than 1. This happens when demand is elastic.
When the percentage change in quantity supplied is greater than the percentage change in price that brought it about supply is said to be?A price elasticity supply greater than one means supply is relatively elastic, where the quantity supplied changes by a larger percentage than the price change.
When the percentage change in price is greater than the resulting percentage change in quantity?When the percentage change in price is greater than the resulting percentage change in quantity demanded: an increase in price will increase total revenue.
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When the percentage change in the quantity demanded is greater than the percentage change in price?
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