What is the elasticity of demand for luxury goods?

Related MCQs

• What will be the elasticity of demand if percentage change in demand is less than the percentage Change in price?
• What will be the nature of demand if elasticity of demand is 1?
• Which relationship of price and demand is explained by elasticity of demand?
• How many types of price elasticity of demand are there?
• What is elasticity of demand in case of perfect competition?
• How is the elasticity of demand in long run compare to short run?
• What is the income elasticity of giffen goods?
• Which of the following goods may have zero income elasticity?
• What is the slope of demand curve when demand is perfectly inelastic?
• When products are expensive then how is the demand of prestigious goods of the rich?