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Finding Discounts

If the price ...

Question

If the price of air-conditioners increases from Rs. $30, 000$ to Rs. $30, 010$ and resultant change in demand is negligible, we use the measure of ___________ to measure elasticity.

A

Point elasticity

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B

Perfect elasticity

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C

Perfect inelasticity

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D

Price elasticity

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Solution

The correct option is A Point elasticity
Point elasticity method is used when there is very small change in price. Here change of Rs. $10$ is very small in case of price of air conditioner.

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