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प्रश्न
What is price elasticity of demand for life saving drugs?
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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.
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संबंधित प्रश्न
Analyse the given graphs and identify the type of elasticity of demand of:
- Picture 1
- Picture 2
Identify elastic demand when value of Ed is ______.
In case of Ed = 0, demand curve is ______.
Demand is inelastic for ______.
What is unitary elastic demand? Draw a diagram to illustrate it.
For the following list of goods state whether the demand is elastic or inelastic. Give reasons:
Rolex watches
Mention the degree of price elasticity of demand for the following goods:
Medicine
How do we determine whether the demand for a particular commodity is elastic or inelastic?
What is meant by unitary elastic demand?
The value of price elasticity of demand is 0.8. Is demand elastic or inelastic? Give reason.
