Advertisements
Advertisements
प्रश्न
What is price elasticity of demand for life saving drugs?
Advertisements
उत्तर
Lifesaving drugs are necessities. There can be no change in the quantity demanded due to a change in their price. That is, Ed = 0. Lifesaving drugs have a perfectly inelastic demand.
APPEARS IN
संबंधित प्रश्न
Analyse the given graphs and identify the type of elasticity of demand of:
- Picture 1
- Picture 2
Under what conditions does the supply of good exhibit unitary elasticity?
In case of Ed = 0, demand curve is ______.
Demand is inelastic for ______.
Mention the degree of price elasticity of demand for the following goods:
Medicine
Mention the degree of price elasticity of demand for the following goods:
School uniform
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 school uniform
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
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
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 precious stones and costly jewellery
