The price elasticity of demand for lightbulbs is likely to be unit elastic because

there are very few substitutes for lightbulbs.

is relatively inelastic because there are very few substitutes for lightbulbs.

is computed as the percentage change in price of lightbulbs divided by the percentage change in quantity of lightbulbs.

is relatively elastic because there are very few substitutes for lightbulbs.

Question

Madyson Mckee

Business

15 May, 19:10

The price elasticity of demand for lightbulbs is likely to be unit elastic because

there are very few substitutes for lightbulbs.

is relatively inelastic because there are very few substitutes for lightbulbs.

is computed as the percentage change in price of lightbulbs divided by the percentage change in quantity of lightbulbs.

is relatively elastic because there are very few substitutes for lightbulbs.

+1

Answers (1)

Know the Answer?

Weston Jennings · Answer 1

The correct answer is: is relatively inelastic because there are very few substitutes for lightbulbs.

Explanation:

The demand for unit elasticity is an intermediate situation between an elastic and other inelastic demand curve, so that the price elasticity is equal to one, which means that in the face of variations in price, the total ingrowth (price per cantidad), if it decides, if the price increases, the demanded cantidad will diminish in an amount such that the previous and the present in the same ones. The same would occur in the case that the price had fallen, the song would increase so much that the ingrowth remained constant.