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Distinguish between elastic and inelastic demand?

Anonymous

∙ 10y ago

Updated: 4/28/2022

An example of perfectly inelastic demand would be a life-saving drug that people will pay any price to obtain. Elastic demand is the opposite of this.

Wiki User

∙ 10y ago

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Demand and its types?

Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.

Is the price and demand for junk food elastic or inelastic?

elastic

Is fruit elastic or inelastic demand?

elastic

Different degrees of elasticity of demand?

Perfectly elastic demand. Relative elastic demand. Unit elasticity of demand. Relative inelastic demand. Perfectly inelastic demand.

Demand for wine is elastic or inelastic?

Highly elastic.

Related Questions

Difference between elastic and inelastic demand?

difference between elastic and inelastic demand

Demand and its types?

Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.

Is the price and demand for junk food elastic or inelastic?

elastic

Is fruit elastic or inelastic demand?

elastic

Different degrees of elasticity of demand?

Perfectly elastic demand. Relative elastic demand. Unit elasticity of demand. Relative inelastic demand. Perfectly inelastic demand.

Demand for wine is elastic or inelastic?

Highly elastic.

What are the types of price elasticity of demand?

there are five types.1).perfect elastic demand,2)perfect inelastic demand,3).relatively elastic demand,4).relatively inelastic demand4).unity elastic demand

What are the key differences between inelastic demand and elastic demand in economics?

In economics, inelastic demand means that changes in price have little impact on the quantity demanded, while elastic demand means that changes in price have a significant impact on the quantity demanded.

What are the different types of demands?

Inelastic Demand & Elastic Demand

When the price of a good will cause total revenue to fall if price elasticity of demand is elastic or inelastic?

when price changes it is called inelastic demand and when quantity of demand change that is called elastic of demand.

If the elasticity equals 0 is demand perfectly elastic or perfectly inelastic?

it is perfectly inelastic

When a firm's marginal revenue is zero what can be said about the elasticity of demand for the output of the firm A. Demand is inelastic. B. Demand is elastic. C. Demand is unit elastic.?

Demand is unit elastic.

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