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
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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.
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When cranberries are a constant cost industry and that firm is typical, in that case the industry’s long-run supply curve is curve as: (i) curve A. (ii) curve B. (iii) curve C. (iv) curve D. (v) curve E. Discover Q & A Leading Solution Library Avail More Than 1421353 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1960926 Asked 3,689 Active Tutors 1421353 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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