Question

1. Which of the following can be expected to have flatter demand curve
A) Petrol
B) Salt
C) Plasma T.V
D) All of the above
2. Which of the possible coefficient of inelastic demand?
A) 3.3
B) 0.6
C) 1.1
D) 1.0​

Answer 1

Which of the following can be expected to have flatter demand curve

• All of the above

Which of the possible coefficient of inelastic demand?

• 0.6

Answer 2

1. The answer is option(D)- All of the above

In Economics, the demand curve is determined by allowing the expense to fluctuate and plotting the sum as mentioned by the market. Toward the day's end, we understand that the expense concludes the sum mentioned. A level interest bend is extremely extraordinary. At only one expense is their advantage when the expense is over this level there is no interest sought after.

2. The answer is option(B)- 0.6

"Inelastic demand" is a term that financial experts use to allude to a circumstance when the demand for a thing continues as before, regardless of how far its value rises or falls. Items and administrations have an inelastic demand where the adjustment of the amount requested is little when there is an adjustment of cost.