Which of the following groups of goods have inelastic demand?

CA Foundation · Business Economics · MTP · September 2024
Which of the following groups of goods have inelastic demand?
(A) A. Salt, Smart phone
(B) B. School uniform, branded goggles and smart phone
(C) C. Salt, school uniform and medicine
(D) D. Medicine, branded sports shoes and diamond ring

Suggested Answer and Working Notes:

Correct Answer: Option (C)

C. Salt, school uniform and medicine

Topics: Theory of Demand and Supply

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