Question

Are haircuts elastic or inelastic in demand.

Answer 1

Answer:

1 side cut And colour your hair

Answer 2

Haircuts have an elastic demand.

• Such a demand arises when the commodity price delivers a significant impact on the customer's demand. Consumers can typically spend frequently more if the price promptly goes down just a little.

• If prices increase just a little bit, consumers will stop buying considerably and wait before the prices get back to normal.

• As it can be postponed and it is not a must, a haircut maintains an elastic requirement. A individual can wear their hair another way and also receive a cut later.