Practicing Success
Practicing Success
CUET Preparation Today
| In toothpaste industry, demand curve will be __________________. |
Relatively elastic Relatively inelastic Perfectly elastic Perfectly inelastic |
| Relatively elastic |
| Toothpaste is a product of monopolistically competitive market. In such a market, there are close substitutes. If one brand increases the price, consumers can easily shift to other brands. So, its demand will be relatively elastic. |
