Balbharati solutions for Economics HSC 12th Standard Maharashtra State Board
Chapter 3 - (B) ELASTICITY OF DEMAND [Latest edition]
Q.3. Complete the correlation:
Perfectly elastic demand : Ed = ∞ :: perfectly inelastic : Ed = 0
Rectangular hyperbola : Unitary elastic : Steeper demand curve : Relatively inelastic demand.
Straight line demand curve : Linear demand curve :: demand curve is convex to the origin : non-linear demand curve.
Pen and ink : Complementary :: Tea and Coffee : Substitutes.
Ratio method : Ed = %△Q/%△P
:: Percentage change in quantity demanded/Percentage change in price : Ed = Lower segment/ Upper segment
