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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 refrigerators
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उत्तर
A refrigerator is not an essential item of consumption for the common man. So, its demand will be relatively elastic.
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संबंधित प्रश्न
Draw a diagram showing a perfectly elastic demand curve.
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Identify elastic demand when value of Ed is ______.
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What is unitary elastic demand? Draw a diagram to illustrate it.
Draw a diagram showing elasticity of demand less than one.
Study the table given below and state whether demand is elastic or inelastic. Give reasons for your answer.
| Price in ₹ | Total outlay ₹ |
| 5 | 25 |
| 3 | 18 |
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