Would someone answer my question please I need it due Monday :S
Inelastic supply ensures a predictable level of supply and also a static cost price. Elastic demand would mean that you need to careful in planning your supply pipeline. if you order too much you may end up selling at or below cost or at lower than budgeted margins.
Generally in a globalised open market these 2 conditions cannot exist for long. They are counter intuitive
Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.
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.
elastic
elastic
Perfectly elastic demand. Relative elastic demand. Unit elasticity of demand. Relative inelastic demand. Perfectly inelastic demand.
Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.
difference 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.
elastic
elastic
Perfectly elastic demand. Relative elastic demand. Unit elasticity of demand. Relative inelastic demand. Perfectly inelastic demand.
Highly elastic.
there are five types.1).perfect elastic demand,2)perfect inelastic demand,3).relatively elastic demand,4).relatively inelastic demand4).unity elastic demand
Inelastic Demand & Elastic Demand
when price changes it is called inelastic demand and when quantity of demand change that is called elastic of demand.
it is perfectly inelastic
Demand is unit elastic.