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प्रश्न
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
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उत्तर
It is a habitual necessity for the chain smoker. Hence, demand for cigars will be inelastic.
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संबंधित प्रश्न
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Mention one example of inelastic demand. Give a reason in support of your answer.
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Study the statement given below and state whether demand will be elastic or inelastic, citing reasons for your answer.
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