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
- Match the words in List-I with their definitions in List-II :
List-I (Words) List-II (Definitions) (A) Theocracy (I) One who keeps drugs for sale and puts up prescriptions (B) Megalomania (II) One who collects and studies objects or artistic works from the distant past (C) Apothecary (III) A government by divine guidance or religious leaders (D) Antiquarian (IV) A morbid delusion of one’s power, importance or godliness Choose the correct answer from the options given below :- CUET (UG) - 2024
- Vocabulary
- Complete the sentences given in List-I with the appropriate prepositions given in List-II:
- 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
- Identify the correct sequence of the Selection process:
(A) Selection decision
(B) Employment interview
(C) Selection tests
(D) Reference checking- CUET (UG) - 2024
- Staffing
- If \(\tan^{-1}\left(\frac{2}{3 - x + 1}\right) = \cot^{-1}\left(\frac{3}{3x + 1}\right)\), then which one of the following is true?
- CUET (UG) - 2024
- Inverse Trigonometric Functions
View More Questions