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Expenditure on commodity decreases when price increases Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses Expenditure on commodity remains constant when price increases No worries! We‘ve got your back. Try BYJU‘S free classes today! Expenditure on commodity decreases when price decreases No worries! We‘ve got your back. Try BYJU‘S free classes today! Expenditure on commodity is greater when price increases No worries! We‘ve got your back. Try BYJU‘S free classes today! Solution The correct option is AExpenditure on commodity decreases when price increasesThe demand is greater than unitary elastic when percentage change in quantity demanded in response to change in price of the commodity implies that the total expenditure on the commodity decreases when price increases.When the percentage change in quantity demanded is greater than the percentage change in price of the commodity the demand for the commodity is said to be?Own-Price Elasticity
If the percent change in the quantity demanded is greater than the percent change in the price of a good, demand is said to be price elastic or more responsive to price changes. (Example: A 1-percent change in price induces a change in quantity demanded by more than 1 percent.)
When percentage change in price is greater than the percentage change in quantity demanded then what would be the price elasticity of demand?If the percentage change in quantity demanded is greater than the percentage change in price, demand is said to be price elastic, or very responsive to price changes.
When the percentage change in the quantity supplied of a commodity is greater than the percentage change in its price the supply will 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 quantity demanded is more than the percentage change in price the demand curve is * 1 point rectangular steeper flatter horizontal?Solution. When the percentage change in quantity demanded is more than the percentage change in price, the demand curve is flatter.
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When the percentage change in price of a commodity is greater than the percentage change in quantity demanded of that commodity the demand would be?
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