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A list of goods is given below. state whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. demand for cigar by a chain smoker - Economics

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प्रश्न

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

एका वाक्यात उत्तर

उत्तर

It is a habitual necessity for the chain smoker. Hence, demand for cigars will be inelastic.

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Degrees (Or Kinds) of Price Elasticity of Demand
  या प्रश्नात किंवा उत्तरात काही त्रुटी आहे का?
पाठ 3: Elasticity of Demand - QUESTION BANK [पृष्ठ ७९]

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गोयल ब्रदर्स प्रकाशन Economics [English] Class 10 ICSE
पाठ 3 Elasticity of Demand
QUESTION BANK | Q 25. (d) | पृष्ठ ७९
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