Commodities of inelastic demand
Which of the given commodities contain inelastic demand? A) Salt B) A particular brand of lipstick C) Medicines D) Mobile phone E) School uniform
Expert
Salt, medicines and school uniform encompass inelastic demand. The cause being that a consumer has to purchase such commodities even via price of such commodities changes.
Even a substantial modification in price leaves the demand unaffected.
What demand curve illustrates?
Central bank executes the function of a clearing house. Explain how? Answer: Each and every bank keeps cash reserves with central bank. The claims of banks against
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What type of a market structure in an automotive industry?
When an NBA all-star bets in opposition to his team in games he plays after getting the money designated in his contract, he would be describing the problem of: (1) Default a version. (2) Over achievement. (3) Moral hazard. (4) Stupidity. Discover Q & A Leading Solution Library Avail More Than 1456372 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1946293 Asked 3,689 Active Tutors 1456372 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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