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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
Analyse the given graphs and identify the type of elasticity of demand of:
- Picture 1
- Picture 2
Degrees of price elasticity of demand is of ______ types.
In case of Ed = 0, demand curve is ______.
Mention one example of inelastic demand. Give a reason in support of your answer.
What is unitary elastic demand? Draw a diagram to illustrate it.
How do we determine whether the demand for a particular commodity is elastic or inelastic?
When is the demand of a commodity said to be inelastic?
What is meant by unitary elastic demand?
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State whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.
Demand for diesel and petrol
