Match the following :
List-I (Economist)
(A) Robinson
(B) Boulding
(C) A. Caincross
(D) Marshall
List-II (Statement)
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.
2. The elasticity of demand may be defined as the percentage change in quantity demanded which would result from one percent change in price.
3. The elasticity of demand for a commodity is the rate at which the quantity bought changes as the price changes.
4. The elasticity for demand in a market is great or small according as the amount demand increases much or little for a given fall in price, and diminishes much or little for a given rise in price.
5. Economics is what economists do.
| A. | (A) (B) (C) (D) 1 4 3 2 |
| B. | (A) (B) (C) (D) 3 1 4 2 |
| C. | (A) (B) (C) (D) 1 2 3 4 |
| D. | (A) (B) (C) (D) 1 3 4 2 |
Answer : C Explanation : |
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Option: A Explanation : Explanation will come here. Explanation will come here. Explanation will come here. Explanation will come here. Explanation will come here. |
