When demand is elastic?
جب طلب لچکدار ہوتی ہے تو کیا ہوتا ہے؟
- Buyers are not much influenced by prices of competing products
- A fall in price is more than offset by an increase in quantity demanded, so that total revenue rises
- The good is probably a necessity, so price has little effect on quantity demanded
- None of these
Explanation
- Demand is called elastic when quantity demanded changes more than proportionately to a change in price.
- This usually happens when a fall in price causes a large increase in quantity demanded, raising total revenue.
- It is common for non-essential goods and substitutes.
- Thus, total revenue increases when price decreases.
Last verified on 23-04-2026
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افراطِ زر کا مطلب کیا ہے؟
- Increase in prices
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پی آئی ڈی ای کس سے متعلق ہے؟
- Economic research and development policy
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- Saudi Arabia
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سپلائی چین ریزیلینس سے کیا مراد ہے؟
- Stopping trade between countries
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- List of developed countries
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