Advertisements
Advertisements
प्रश्न
How does the nature of a good effect its elasticity of demand?
उत्तर
Necessary goods such as salt, kerosene oil, matchboxes, textbooks etc. have a less than unitary elastic demand. Luxuries such as air conditioner, furniture etc. have a greater than unitary elastic demand. The reason being that a change in their prices has a greater effect on their demand.
shaalaa.com
Elasticity of Demand and Elasticity of Supply
या प्रश्नात किंवा उत्तरात काही त्रुटी आहे का?
