Advertisements
Advertisements
Question
A product's demand is ______ when the time period under consideration is longer.
Options
Less elastic
More elastic
Perfectly elastic
Perfectly inelastic
Advertisements
Solution
A product's demand is more elastic when the time period under consideration is longer.
APPEARS IN
RELATED QUESTIONS
Which of the following goods have inelastic demand?
In case of Ed = 0, demand curve is ______.
From the following goods, demand for which is inelastic?
Draw a diagram showing elasticity of demand less than one.
Select the commodities from the following which have inelastic demand:
Mention the degree of price elasticity of demand for the following goods:
Cosmetics
Indicate the degree of elasticity demand of the following demand curves.
The value of price elasticity of demand is 0.8. Is demand elastic or inelastic? Give reason.
What is the price elasticity of demand for the following demand curve?
Rectangular hyperbola
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
