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The price elasticity of demand for hamburger is
- a)the change in the quantity demanded of hamburger when hamburger increases by 30 paise per rupee.
- b)the percentage increase in the quantity demanded of hamburger when the price of hamburger falls by 1 per cent per rupee.
- c)the increase in the demand for hamburger when the price of hamburger falls by 10 per cent per rupee.
- d)the decrease in the quantity demanded of hamburger when the price of hamburger falls by 1 per cent per rupee.
Correct answer is option 'B'. Can you explain this answer?
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The price elasticity of demand for hamburger isa)the change in the qua...
Price Elasticity of Demand for Hamburger
Price elasticity of demand is a measure of the responsiveness of the quantity demanded of a product to a change in its price. In other words, it measures the percentage change in the quantity demanded of a product when its price changes by 1%.
The price elasticity of demand for hamburger is the percentage increase in the quantity demanded of hamburger when the price of hamburger falls by 1% per rupee.
Explanation
When the price of hamburger falls by 1% per rupee, it means that for every one rupee decrease in the price of hamburger, the price falls by 1% of its original price. For example, if the price of hamburger is Rs. 100 and it falls by 1% per rupee, the new price of hamburger will be Rs. 99.
The percentage increase in the quantity demanded of hamburger when the price of hamburger falls by 1% per rupee is the price elasticity of demand. For example, if the quantity demanded of hamburger increases by 2% when the price of hamburger falls by 1% per rupee, the price elasticity of demand is 2.
This means that hamburger is relatively elastic, as a small change in its price leads to a relatively large change in the quantity demanded. If the price of hamburger were to increase by 1% per rupee, the quantity demanded would decrease by a similar percentage.
Conclusion
In conclusion, the price elasticity of demand for hamburger is the percentage increase in the quantity demanded of hamburger when the price of hamburger falls by 1% per rupee. It is an important measure that helps businesses understand how consumers will respond to changes in the price of their products.
Price elasticity of demand is a measure of the responsiveness of the quantity demanded of a product to a change in its price. In other words, it measures the percentage change in the quantity demanded of a product when its price changes by 1%.
The price elasticity of demand for hamburger is the percentage increase in the quantity demanded of hamburger when the price of hamburger falls by 1% per rupee.
Explanation
When the price of hamburger falls by 1% per rupee, it means that for every one rupee decrease in the price of hamburger, the price falls by 1% of its original price. For example, if the price of hamburger is Rs. 100 and it falls by 1% per rupee, the new price of hamburger will be Rs. 99.
The percentage increase in the quantity demanded of hamburger when the price of hamburger falls by 1% per rupee is the price elasticity of demand. For example, if the quantity demanded of hamburger increases by 2% when the price of hamburger falls by 1% per rupee, the price elasticity of demand is 2.
This means that hamburger is relatively elastic, as a small change in its price leads to a relatively large change in the quantity demanded. If the price of hamburger were to increase by 1% per rupee, the quantity demanded would decrease by a similar percentage.
Conclusion
In conclusion, the price elasticity of demand for hamburger is the percentage increase in the quantity demanded of hamburger when the price of hamburger falls by 1% per rupee. It is an important measure that helps businesses understand how consumers will respond to changes in the price of their products.
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The price elasticity of demand for hamburger isa)the change in the quantity demanded of hamburger when hamburger increases by 30 paise per rupee.b)the percentage increase in the quantity demanded of hamburger when the price of hamburger falls by 1 per cent per rupee.c)the increase in the demand for hamburger when the price of hamburger falls by 10 per cent per rupee.d)the decrease in the quantity demanded of hamburger when the price of hamburger falls by 1 per cent per rupee.Correct answer is option 'B'. Can you explain this answer?
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The price elasticity of demand for hamburger isa)the change in the quantity demanded of hamburger when hamburger increases by 30 paise per rupee.b)the percentage increase in the quantity demanded of hamburger when the price of hamburger falls by 1 per cent per rupee.c)the increase in the demand for hamburger when the price of hamburger falls by 10 per cent per rupee.d)the decrease in the quantity demanded of hamburger when the price of hamburger falls by 1 per cent per rupee.Correct answer is option 'B'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The price elasticity of demand for hamburger isa)the change in the quantity demanded of hamburger when hamburger increases by 30 paise per rupee.b)the percentage increase in the quantity demanded of hamburger when the price of hamburger falls by 1 per cent per rupee.c)the increase in the demand for hamburger when the price of hamburger falls by 10 per cent per rupee.d)the decrease in the quantity demanded of hamburger when the price of hamburger falls by 1 per cent per rupee.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The price elasticity of demand for hamburger isa)the change in the quantity demanded of hamburger when hamburger increases by 30 paise per rupee.b)the percentage increase in the quantity demanded of hamburger when the price of hamburger falls by 1 per cent per rupee.c)the increase in the demand for hamburger when the price of hamburger falls by 10 per cent per rupee.d)the decrease in the quantity demanded of hamburger when the price of hamburger falls by 1 per cent per rupee.Correct answer is option 'B'. Can you explain this answer?.
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