The Range of the price elasticity is:
Tap an option to check your answer.
UGC-NET 2026 Question 49: Demand theory and elasticity
Answer and worked solution
Checking your account…
Plain-text version
The Range of the price elasticity is: (A) 0 ≤ eₚ ≤ 1 (B) 0 ≤ eₚ ≤ ∞ (C) -1 ≤ eₚ ≤ +1 (D) 1 ≤ eₚ ≤ ∞
Demand theory and elasticity has come up 161 times in 7 exams since 2004.
What this question tests
This question is on Price elasticity of demand, part of Demand theory and elasticity in Microeconomics.
How responsive quantity is to price, at a point, along a linear curve, and for constant-elasticity demand.
TestStop has 41 past-paper questions on this subtopic; the nearest in year are below.
- GATE 2023 · Q52Suppose the own price elasticity of demand and income elasticity of demand are given by eₚ and e_I…
- GATE 2021 · Q1A firm finds that for the product that it produces, its (own) price elasticity of demand is 4. Currently…
- IIT JAM 2021 · Q48A consumer always spends 50% of monthly income on food. A value added tax raises food prices by 20% while…
Similar questions from other papers
- Goods are substitutes when an increase in price of one leads to _ of other commodity.
- Let e, R, and p represent own price elasticity of demand, total revenue, and price, respectively for a good. If (∂ R)/(∂ p)<0, then
- The decision by consumers to buy larger quantities of a good at each possible price can not be caused by
- The demand function is given as log Q = log A + 0.5log P, where Q is quantity, P is the unit price of the good and A is a positive real number. The own price elasticity…
- Consider a consumer with the utility function U(x,y)=y+√x where x and y are quantity of two commodities consumed. Which one of the following is TRUE?
Question from the UGC-NET 2026 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.