{"@context":"https://schema.org/","@type":"Quiz","dateCreated":"2024-09-23T08:03:36.467Z","dateModified":"2026-04-02T12:07:17.856Z","typicalAgeRange":"11-18","educationalLevel":"CUET (UG)","assesses":"Economics - The elasticity of demand and its measurement","educationalAlignment":[{"@type":"AlignmentObject","alignmentType":"educationalTopic","targetName":"The elasticity of demand and its measurement"},{"@type":"AlignmentObject","alignmentType":"educationalSubject","targetName":"Economics"},{"@type":"AlignmentObject","alignmentType":"educationalExam","targetName":"CUET (UG)"}],"name":"Quiz about The elasticity of demand and its measurement","about":{"@type":"Thing","name":"Economics - The elasticity of demand and its measurement"},"hasPart":[{"@type":"Question","eduQuestionType":"Multiple choice","learningResourceType":"Practice problem","educationalLevel":"intermediate","name":"Question About The elasticity of demand and its measurement","text":"Price of a commodity increases. The demand is inelastic if:}","encodingFormat":"text/markdown","comment":{"@type":"Comment","text":"\"\""},"suggestedAnswer":[{"@type":"Answer","position":0,"encodingFormat":"text/markdown","text":"

Total expenditure (T.E.) on the commodity decreases.

","comment":{"@type":"Comment","text":"\"\""}},{"@type":"Answer","position":1,"encodingFormat":"text/markdown","text":"

T.E. on the commodity increases.

","comment":{"@type":"Comment","text":"\"\""}},{"@type":"Answer","position":2,"encodingFormat":"text/markdown","text":"

T.E. remains same.

","comment":{"@type":"Comment","text":"\"\""}},{"@type":"Answer","position":3,"encodingFormat":"text/markdown","text":"

T.E. becomes zero.

","comment":{"@type":"Comment","text":"\"\""}}],"acceptedAnswer":{"@type":"Answer","position":1,"encodingFormat":"text/markdown","text":"

T.E. on the commodity increases.

","comment":{"@type":"Comment","text":"\"\""},"answerExplanation":{"@type":"comment","text":"The correct option is (B) :T.E. on the commodity increases.."}}}]}

Price of a commodity increases. The demand is inelastic if:

The Correct Option is B

Solution and Explanation

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