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In: Economics

Which of the followings illustrates the demand curve for individuals who have become addicted to smoking those who have smoked for car periods of B.P


Which of the followings illustrates the demand curve for individuals who have become addicted to smoking those who have smoked for car periods of B.P 

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Solutions

Expert Solution

Demand curve A is the demand curve for individual who have become addicted to smoking for significant period of time.

Explanation:

Demand curve A is the demand curve which is inelastic demand or relatively inelastic demand curve relative to other diagram given. And for individual who have become addicted to smoking for significant period of time, it means smoking is a necessary product for him so its demand curve is highly inelastic because he will not decrease his consumption due to change in the price very easily.
Ans - diagram A

Rahul Sunny answered 1 year ago
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