How is price elastictity of demand affected by the nature of the commo

1.	How is price elastictity of demand affected by the nature of the commodity ?
Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :Price <a href="https://interviewquestions.tuteehub.com/tag/elasticity-14238" style="font-weight:bold;" target="_blank" title="Click to know more about ELASTICITY">ELASTICITY</a> of demand fornecessily <a href="https://interviewquestions.tuteehub.com/tag/goods-1009877" style="font-weight:bold;" target="_blank" title="Click to know more about GOODS">GOODS</a> is inelastic wherase, <a href="https://interviewquestions.tuteehub.com/tag/luxury-1081765" style="font-weight:bold;" target="_blank" title="Click to know more about LUXURY">LUXURY</a> goods have elastic demand.</body></html>

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