The question askes me to talk about the own elasticity of banana demand . I have 2
No answer yet for this question.
Ask a Tutor
Question:
The question askes me to talk about the own elasticity of banana demand .
I have 2 thoughts: the first perspective is to draw a downward-sloping demand and discussion about the three parts( inelastic parts elastic parts and unit elastic)
The second thoughtis to draw two downward-sloping demand curves . one is inelastic while the other one is elastic. Please see the attatched picture
Which thought is correct? thank you. Banana is just an example, please do not dig deep into it, what I need is which thought is the right way for my discussion questions thanks!
Posted Date: