Advertisements
Advertisements
प्रश्न
A list of goods is given below. state whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.
Demand for cigar by a chain smoker
Advertisements
उत्तर
It is a habitual necessity for the chain smoker. Hence, demand for cigars will be inelastic.
APPEARS IN
संबंधित प्रश्न
Draw a diagram showing a perfectly elastic demand curve.
Under what conditions does the supply of good exhibit unitary elasticity?
Degrees of price elasticity of demand is of ______ types.
Which is the implication of a horizontal demand curve?
Mention one example of inelastic demand. Give a reason in support of your answer.
Draw a diagram showing elasticity of demand less than one.
For the following list of goods state whether the demand is elastic or inelastic. Give reasons:
Rolex watches
The value of price elasticity of demand is 0.8. Is demand elastic or inelastic? Give reason.
What is the price elasticity of demand for the following demand curve?
Straight line demand curve parallel to Y-axis.
A list of goods is given below. state whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.
Demand for personal computers
