Q682
Match the following. List-I (Economist) List-II (Statement) a. Robinson 1. The elasticity of demand at any price or at any output is the proportional change of amount purchased in response to a small change in price divided by the proportional change in price b. Boulding 2. The elasticity of demand may be defined as the percentage change in quantity demanded, which would result from 1% change in price c. Cairn Cross 3. The elasticity of demand for a commodity is the rate at which the quantity bought changes as the price changes d. Marshall 4. The elasticity for demand in a market is large or small according to how the amount of demand increases for a given fall in price and diminishes more or less for a given rise in price
Match the following.
| List-I (Economist) | List-II (Statement) |
| a. Robinson | 1. The elasticity of demand at any price or at any output is the proportional change of amount purchased in response to a small change in price divided by the proportional change in price |
| b. Boulding | 2. The elasticity of demand may be defined as the percentage change in quantity demanded, which would result from 1% change in price |
| c. Cairn Cross | 3. The elasticity of demand for a commodity is the rate at which the quantity bought changes as the price changes |
| d. Marshall | 4. The elasticity for demand in a market is large or small according to how the amount of demand increases for a given fall in price and diminishes more or less for a given rise in price |
A.
a-1, b-3, c-4, d-2
B.
a-1, b-2, c-4, d-3
C.
a-1, b-3, c-2, d-4
D.
a-1, b-2, c-3, d-4
AnswerAnswer: Option D
Solution
Answer: Option D
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