Is telivision elastic or inelastic

Answer 1

Television as a product can exhibit both elastic and inelastic characteristics depending on the context. For example, demand for cable subscriptions may be inelastic because many consumers consider it a necessity for entertainment. However, demand for premium channels or streaming services can be more elastic, as consumers can easily switch to alternatives or forgo them if prices rise. Overall, the elasticity of television depends on factors such as consumer preferences, availability of substitutes, and price changes.