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Question
State whether the following statement is True or False:
Supply of perishable goods is inelasitc.
State whether the following statement is True or False:
Supply of perishable goods is inelasitc.
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Solution
The correct option is A True
Supply of perishable goods is inelastic because the supply of perishable goods cannot be increased or decreased easily. As a result, change in demand for these goods will not result a change in their supply.
Supply of perishable goods is inelastic because the supply of perishable goods cannot be increased or decreased easily. As a result, change in demand for these goods will not result a change in their supply.
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