UPSC Exam > UPSC Questions > In case of relatively more elastic curve, dem...
Start Learning for Free
In case of relatively more elastic curve, demand curve is:
- a)Horizontal
- b)Vertical
- c)Steeper
- d)Flatter
- e)In case of relatively more elastic, demand curve is:(i) Horizontal(ii) Vertical(iii) Steeper(iv) Flatter
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
In case of relatively more elastic curve, demand curve is:a)Horizontal...
Explanation:
Elasticity refers to the degree of responsiveness of demand to changes in price. When demand is relatively more elastic, it means that a small change in price leads to a larger change in quantity demanded. This results in a flatter demand curve.
Demand curve is a graphical representation of the relationship between the price of a good or service and the quantity demanded by consumers. The slope of the demand curve represents the degree of responsiveness of demand to changes in price.
When demand is relatively more elastic, the demand curve is flatter. This means that a small change in price leads to a larger change in quantity demanded. In other words, consumers are more responsive to changes in price, and are likely to buy more of the good or service when the price is lowered.
Option D is the correct answer because a flatter demand curve indicates that demand is relatively more elastic. A horizontal demand curve would indicate perfect elasticity, while a vertical demand curve would indicate perfect inelasticity.
In summary, when demand is relatively more elastic, the demand curve is flatter, indicating that a small change in price leads to a larger change in quantity demanded.
Elasticity refers to the degree of responsiveness of demand to changes in price. When demand is relatively more elastic, it means that a small change in price leads to a larger change in quantity demanded. This results in a flatter demand curve.
Demand curve is a graphical representation of the relationship between the price of a good or service and the quantity demanded by consumers. The slope of the demand curve represents the degree of responsiveness of demand to changes in price.
When demand is relatively more elastic, the demand curve is flatter. This means that a small change in price leads to a larger change in quantity demanded. In other words, consumers are more responsive to changes in price, and are likely to buy more of the good or service when the price is lowered.
Option D is the correct answer because a flatter demand curve indicates that demand is relatively more elastic. A horizontal demand curve would indicate perfect elasticity, while a vertical demand curve would indicate perfect inelasticity.
In summary, when demand is relatively more elastic, the demand curve is flatter, indicating that a small change in price leads to a larger change in quantity demanded.
Free Test
FREE
| Start Free Test |
Community Answer
In case of relatively more elastic curve, demand curve is:a)Horizontal...
Flatter curve is more elastics than horizontal vertical and steeper
|
Explore Courses for UPSC exam
|
|
Top Courses for UPSCView all
Question Description
In case of relatively more elastic curve, demand curve is:a)Horizontalb)Verticalc)Steeperd)Flattere)In case of relatively more elastic, demand curve is:(i) Horizontal(ii) Vertical(iii) Steeper(iv) FlatterCorrect answer is option 'D'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about In case of relatively more elastic curve, demand curve is:a)Horizontalb)Verticalc)Steeperd)Flattere)In case of relatively more elastic, demand curve is:(i) Horizontal(ii) Vertical(iii) Steeper(iv) FlatterCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In case of relatively more elastic curve, demand curve is:a)Horizontalb)Verticalc)Steeperd)Flattere)In case of relatively more elastic, demand curve is:(i) Horizontal(ii) Vertical(iii) Steeper(iv) FlatterCorrect answer is option 'D'. Can you explain this answer?.
In case of relatively more elastic curve, demand curve is:a)Horizontalb)Verticalc)Steeperd)Flattere)In case of relatively more elastic, demand curve is:(i) Horizontal(ii) Vertical(iii) Steeper(iv) FlatterCorrect answer is option 'D'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about In case of relatively more elastic curve, demand curve is:a)Horizontalb)Verticalc)Steeperd)Flattere)In case of relatively more elastic, demand curve is:(i) Horizontal(ii) Vertical(iii) Steeper(iv) FlatterCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In case of relatively more elastic curve, demand curve is:a)Horizontalb)Verticalc)Steeperd)Flattere)In case of relatively more elastic, demand curve is:(i) Horizontal(ii) Vertical(iii) Steeper(iv) FlatterCorrect answer is option 'D'. Can you explain this answer?.
Solutions for In case of relatively more elastic curve, demand curve is:a)Horizontalb)Verticalc)Steeperd)Flattere)In case of relatively more elastic, demand curve is:(i) Horizontal(ii) Vertical(iii) Steeper(iv) FlatterCorrect answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
Here you can find the meaning of In case of relatively more elastic curve, demand curve is:a)Horizontalb)Verticalc)Steeperd)Flattere)In case of relatively more elastic, demand curve is:(i) Horizontal(ii) Vertical(iii) Steeper(iv) FlatterCorrect answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
In case of relatively more elastic curve, demand curve is:a)Horizontalb)Verticalc)Steeperd)Flattere)In case of relatively more elastic, demand curve is:(i) Horizontal(ii) Vertical(iii) Steeper(iv) FlatterCorrect answer is option 'D'. Can you explain this answer?, a detailed solution for In case of relatively more elastic curve, demand curve is:a)Horizontalb)Verticalc)Steeperd)Flattere)In case of relatively more elastic, demand curve is:(i) Horizontal(ii) Vertical(iii) Steeper(iv) FlatterCorrect answer is option 'D'. Can you explain this answer? has been provided alongside types of In case of relatively more elastic curve, demand curve is:a)Horizontalb)Verticalc)Steeperd)Flattere)In case of relatively more elastic, demand curve is:(i) Horizontal(ii) Vertical(iii) Steeper(iv) FlatterCorrect answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice In case of relatively more elastic curve, demand curve is:a)Horizontalb)Verticalc)Steeperd)Flattere)In case of relatively more elastic, demand curve is:(i) Horizontal(ii) Vertical(iii) Steeper(iv) FlatterCorrect answer is option 'D'. Can you explain this answer? tests, examples and also practice UPSC tests.
|
|
Explore Courses for UPSC exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup