Ice cream typically has inelastic demand because it is considered a luxury or non-essential good, meaning that consumers will continue to purchase it even if prices rise. While some may reduce their consumption slightly with significant price increases, the overall demand remains relatively stable, as many people view ice cream as a treat. Additionally, factors like brand loyalty and the availability of substitutes can influence this inelasticity.
elastic
Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.
No, the demand for insulin is not perfectly inelastic.
difference between elastic and inelastic demand
what is the factors that may cause a decrease in the demand of ice-cream
Perfectly elastic demand. Relative elastic demand. Unit elasticity of demand. Relative inelastic demand. Perfectly inelastic demand.
elastic
On demand
What is inelastic demand
Inelastic Demand & Elastic Demand
The demand for insulin is considered inelastic, meaning that changes in price do not significantly affect the quantity demanded.
inelastic demand