Question

Are Tattoos elastic or inelastic or it depends?

Explanation why

Answer 1

Answer:

inelastic obviously

Answer 2

Answer:

Demand for tattoos is Inelastic.

Explanation:

Inelastic Demand-

• Inelasticity of demand occurs when demand for a good or service remains constant despite changes in its price or another factor.
• That is, no matter how much the price changes, the demand for the commodity will remain same, or will change is less proportion in comparion with its price.
• Inelastic products are typically necessities in the absence of acceptable substitutes.
• Utilities, prescription drugs, and tobacco products are the most common goods with inelastic demand.

In case of a Tattoo, the people who wish to get a tattoo are generally the ones who are determined to get it, no matter what its price is, hence the quantity demanded of tattoo remains same irrespective of its price. And therefore it's demand is inelastic.

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