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.
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When the government taxes a good, the price consumers currently face is most probably: (w) higher than before the tax. (x) below the price the seller receives. (y) less than average production cost. (z) justified through welfare payments to taxpayers. Discover Q & A Leading Solution Library Avail More Than 1430195 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1928696 Asked 3,689 Active Tutors 1430195 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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