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प्रश्न
Study the statement given below and state whether demand will be elastic or inelastic, citing reasons for your answer.
Demand for cigarettes by a habitual smoker.
उत्तर
It is inelastic because a chain smoker or someone who has a habit of smoking cigarettes cannot lessen their use even if the price rises.
संबंधित प्रश्न
Analyse the given graphs and identify the type of elasticity of demand of:
- Picture 1
- Picture 2
Select the commodities from the following which have inelastic demand:
Mention the degree of price elasticity of demand for the following goods:
Cosmetics
Mention the degree of price elasticity of demand for the following goods:
Air conditioners
Study the statement given below and state whether demand will be elastic or inelastic, citing reasons for your answer.
A consumer postpones the purchase of a refrigerator till the off-season sale.
Define perfectly elastic demand.
What is price elasticity of demand for life saving drugs?
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 school uniform
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 precious stones and costly jewellery
