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Is the demand for insulin perfectly inelastic?
No, the demand for insulin is not perfectly inelastic.
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
Is insulin elastic or inelastic?
Insulin is considered inelastic in terms of demand because it is a necessary medication for individuals with diabetes, and they will continue to purchase it regardless of price changes. Since there are limited substitutes for insulin, patients rely on it for survival and to manage their condition, making their demand relatively unresponsive to price fluctuations.
Is the demand for insulin perfectly inelastic?
No, the demand for insulin is not perfectly inelastic.
Demand and its types?
Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.
Difference between elastic and inelastic demand?
difference between elastic and inelastic demand
Is the price and demand for junk food elastic or inelastic?
elastic
Is fruit elastic or inelastic demand?
elastic
Is insulin elastic or inelastic?
Insulin is considered inelastic in terms of demand because it is a necessary medication for individuals with diabetes, and they will continue to purchase it regardless of price changes. Since there are limited substitutes for insulin, patients rely on it for survival and to manage their condition, making their demand relatively unresponsive to price fluctuations.
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 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.
Distinguish between elastic and inelastic demand?
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.
