Question:
Price of a commodity increases. The demand is inelastic if:
Price of a commodity increases. The demand is inelastic if:
Updated On: Mar 12, 2025
- Total expenditure (T.E.) on the commodity decreases.
- T.E. on the commodity increases.
- T.E. remains same.
- T.E. becomes zero.
Hide Solution
Verified By Collegedunia
The Correct Option is B
Solution and Explanation
The correct option is (B) :T.E. on the commodity increases..
Was this answer helpful?
0
0
Top Questions on The elasticity of demand and its measurement
- When Elasticity of Demand is 1 at every point on the Demand Curve, this curve is known as:
- CUET (UG) - 2024
- Economics
- The elasticity of demand and its measurement
- For a profit maximising monopolist, the ratio of the profit margin to price (also known as the Lerner Index or the relative mark-up) has a relationship with the price-elasticity of demand at the profit maximising price. Then, which of the following statements is CORRECT?
- IIT JAM EN - 2024
- Macroeconomics
- The elasticity of demand and its measurement
- Explain the changes that were observed in India's occupational structure during the British rule.
- GATE XH-C1 - 2024
- Economics
- The elasticity of demand and its measurement
- "Direct and active participation of state was considered essential in the industrial development process in the period 1950-1990." Justify the given statement with valid explanation.
- GATE XH-C1 - 2024
- Economics
- The elasticity of demand and its measurement
"Development of Railways during British rule encouraged colonial exploitation of the Indian resources."
Justify the given statement with valid arguments.- GATE XH-C1 - 2024
- Economics
- The elasticity of demand and its measurement
View More Questions
Questions Asked in CUET exam
- The corner points of the feasible region determined by $x + y \leq 8$, $2x + y \geq 8$, $x \geq 0$, $y \geq 0$ are $A(0, 8)$, $B(4, 0)$, and $C(8, 0)$. If the objective function $Z = ax + by$ has its maximum value on the line segment $AB$, then the relation between $a$ and $b$ is:
- CUET (UG) - 2024
- Linear Programmig Problem
- If the value of the investment multiplier is 5, and the increased income is ₹800 crore, find the change in investment.
- CUET (UG) - 2024
- Return on investment
- Match List-I with List-II:Choose the correct answer from the options given below:
List-I
List-II
A Megaliths (I) Decipherment of Brahmi and Kharoshti B James Princep (II) Emerged in first millennium BCE C Piyadassi (III) Means pleasant to behold D Epigraphy (IV) Study of inscriptions - CUET (UG) - 2024
- Political and Economic History
- From the given options, which pass connects Jammu with Srinagar?
- CUET (UG) - 2024
- Static GK
- In a square, the lengths of the diagonals are $(4k + 6)$ cm and $(7k - 3)$ cm. What is the area of the square (in cm²)?
- CUET (UG) - 2024
- Geometry
View More Questions