Question

For which of the following the demand is price inelastic?
(a) Airline tickets
(b) Transportation
(C) Taxi rides
(d) Bus Tickets​

Answer 1

it's option a

Explanation:

airline tickets

Answer 2

Among the following, the demand is price inelastic for bus tickets. (Option d)

• Price inelastic means, a change in the price does not affect the demand for a product or service.
• This means that product consumption does not increase when price decrease and vice versa.
• Thus, there will not be any change in the public demand with a change in price.
• Bus transportation is a necessity and not a luxury and hence, its demand would remain the same even if there is an increase in the ticket charge.
• Therefore, the demand for bus tickets is price inelastic.