Economy, asked by jiyaagrawal8888, 7 months ago

is the demand for the following elastic, moderate elastic or inelastic? give reason
demand for petrol
demand for notebokks
demand for cars
demand for milks

Answers

Answered by prasadtribhuvan47
3

Explanation:

Demand for petrol is elastic because petrol does not have many substitutes. Demand for textbooks is inelastic because the students have to buy them regardless of the increase in their price.

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