Question

On basis of the case can it be concluded that demand for games was not elastic

to price rather some other variable were important? If yes then identify the

other varialbes.​

Answer 1

Answer:

Inelasticity and elasticity of demand refer to the degree to which demand responds to a change in another economic factor, such as price, income level, or substitute availability. Elasticity measures how demand shifts when other economic factors change. When fluctuating demand is unrelated to an economic factor, it is called inelasticity.