CUET Economics - The price of a commodity increases by 10%, its demand drops by 12%. What is the nature of price elasticity of demand? | PYQs + Solutions

CUET Economics 2025 22 May Shift 1

Micro

Medium

Price Inelastic.

Price Elastic.

Unit Elastic.

Income elastic.

✅ Correct Option: 2

Related questions:

2 June Shift 1

A shift in the budget line, when prices are constant, is due to.

2 June Shift 1

Match List-I with List-II

List-I	List-II
(A) Consumer's equilibrium	(I) ΔY/ ΔX
(B) Slope of IC	(II) Budget line rotates to the right starting from the Y axis
(C) Px falls	(III) Consumer should move downwards to the right along the IC
(D) MRSxy > Px/Py	(IV) Optimum choice of the consumer

Choose the correct answer from the options given below:

15 May Shift 1

Which of the following will NOT cause a change in the budget set of a consumer?

CUET Economics 2025 22 May Shift 1 PYQs