Examples of price inelastic
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Title: Examples of price inelastic

Essay Details:

Subject: Technology
Author: Agnes W
Date: April 23, 2017
Level: University
Grade: B
Length: 1 / 261

Essay text:

For example, the demand for opera tickets is more elastic than the demand for urban rail travel. The demand for vacation air travel is more elastic than the demand for business air travel. 3. Percentage of income spent on a good - It may be the case that the smaller the proportion of income spent taken up with purchasing the good or service the more inelastic demand will be. 4. Habit forming goods - Goods such as cigarettes and drugs tend to be inelastic in demand. Preferences are such that habitual consumers of certain products become de-sensitised to price changes. 5. Time period under consideration - Demand tends to be more elastic in the long run rather than in the short run...

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