Economics · Microeconomics
Match List I (Type of Elasticity) with List II (Description) and select the correct answer: List I (A) Perfectly Elastic Demand (B) Perfectly Inelastic Demand (C) Relatively Elastic Demand (D) Unitary Elastic Demand List II (I) Quantity demanded does not change with price (II) Infinite elasticity (III) Percentage change in quantity > percentage change in price (IV) Percentage change in quantity = percentage change in price
- 1A-II, B-III, C-I, D-IV
- 2A-I, B-II, C-III, D-IV
- 3A-II, B-I, C-III, D-IV✓
- 4A-III, B-I, C-II, D-IV
Correct answer
A-II, B-I, C-III, D-IV
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