The given diagram indicates a linear dem

CUET Preparation Today

Start Free Mocks

Home Questions B8QW3C554S

Target Exam

CUET

Subject

Economics

Chapter

Micro Economics: Theory of Consumer behaviour

Question:

The given diagram indicates a linear demand curve, State the elasticity of demand at point 'P' as shown in the diagram.

Options:

Ed=1

ed=0

ed<1

ed>1

Correct Answer:

ed>1

Explanation:

The correct answer is option (4) : ed>1