English

Medicines have __________ demand as their consumption cannot be postponed, while Coke has __________ demand as it has number of substitutes.

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Question

Medicines have __________ demand as their consumption cannot be postponed, while Coke has __________ demand as it has number of substitutes.

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Solution

Medicines have inelastic demand as their consumption cannot be postponed, while Coke has elastic demand as it has number of substitutes.

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Chapter 4: Elasticity of Demand - OBJECTIVE QUESTIONS [Page 4.35]

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Sandeep Garg Introductory Microeconomics [English] Class 11
Chapter 4 Elasticity of Demand
OBJECTIVE QUESTIONS | Q 9. | Page 4.35
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