mullina
2 Answers
nomdeplume
MikeIke
Bottled water can be both elastic and inelastic demand, it depends how you look at it:
On one hand, you can say that there are substitutes, such as juice, sodas etc, so it's elastic.
On the other hand, you can say that most probably if something terrible happens, such as war or natural disaster, people will definitely buy bottled water, no matter what, so it's inelastic.
On one hand, you can say that there are substitutes, such as juice, sodas etc, so it's elastic.
On the other hand, you can say that most probably if something terrible happens, such as war or natural disaster, people will definitely buy bottled water, no matter what, so it's inelastic.
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