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People take fewer vacations as air fare gets higher.
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What is perfect elastic demand give some example?
no
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.
Demand and its types?
Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.
Give an example where there is perfectly elastic demand i.e elasticity infinity?
life
Is fruit elastic or inelastic demand?
elastic
What is perfect elastic demand give some example?
no
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.
Demand and its types?
Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.
Give an example where there is perfectly elastic demand i.e elasticity infinity?
life
When demand is elastic?
The demand is elastic when the price is low. So people will buy more good so that it's demand will become more elastic. Moreover ,the demand is elastic when there are some new inventions.
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.
Is fruit elastic or inelastic demand?
elastic
Difference between elastic and inelastic demand?
difference between elastic and inelastic demand
Different degrees of elasticity of demand?
Perfectly elastic demand. Relative elastic demand. Unit elasticity of demand. Relative inelastic demand. Perfectly inelastic demand.
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 is the definition of perfectly elastic supply?
The definition of perfectly elastic supply is a supply that can change along with the demand. This means if paper for example is not demanded in large quantities and then all of the sudden is there will be enough paper to supply the demand.
Demand for wine is elastic or inelastic?
Highly elastic.
