price elasticity of food would be inelastic, as there are no substitutes and food is a necessity.
Perfectly elastic demand. Relative elastic demand. Unit elasticity of demand. Relative inelastic demand. Perfectly inelastic demand.
If the elasticity is greater than 1, demand is considered elastic, meaning that consumers are highly responsive to price changes. Conversely, if the elasticity equals 0, demand is perfectly inelastic, indicating that quantity demanded does not change regardless of price fluctuations. In this case, consumers will purchase the same amount no matter the price.
it is perfectly inelastic
when price changes it is called inelastic demand and when quantity of demand change that is called elastic of demand.
Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.
Perfectly elastic demand. Relative elastic demand. Unit elasticity of demand. Relative inelastic demand. Perfectly inelastic demand.
If the elasticity is greater than 1, demand is considered elastic, meaning that consumers are highly responsive to price changes. Conversely, if the elasticity equals 0, demand is perfectly inelastic, indicating that quantity demanded does not change regardless of price fluctuations. In this case, consumers will purchase the same amount no matter the price.
it is perfectly inelastic
there are five types.1).perfect elastic demand,2)perfect inelastic demand,3).relatively elastic demand,4).relatively inelastic demand4).unity elastic demand
when price changes it is called inelastic demand and when quantity of demand change that is called elastic of demand.
Demand is unit elastic.
Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.
There are 2 different types price elasticity of demand and price elasticity of supply. If you meant to ask is demand for coal price elastic on inelastic, answer is yes, it is price inelastic. The demand for coal, is unlikely to drop much even if the price of it increases, it can be said that it is a 'necessity'. Since the quantity demanded decreases less than proportionate than the increase in price, it is said to be price inelastic.
difference between elastic and inelastic demand
there are broadly classified into five types 1. Perfect price elasticity of demand 2. Perfect price in-elasticity of demand 3. Relative price elasticity of demand 4. Relative price in-elasticity of demand 5. Unity price elasticity of demand
The demand for insulin is considered inelastic, meaning that changes in price do not significantly affect the quantity demanded.
elastic