Price inelastic means that the supply or demand of a product or service is unaffected by any changes in the price.
There are 2 different types price elasticity of demand and price elasticity of supply. If you meant to ask is demand for coal price elastic on inelastic, answer is yes, it is price inelastic. The demand for coal, is unlikely to drop much even if the price of it increases, it can be said that it is a 'necessity'. Since the quantity demanded decreases less than proportionate than the increase in price, it is said to be price inelastic.
when price changes it is called inelastic demand and when quantity of demand change that is called elastic of demand.
elastic
Increase. Inelastic demand means that most consumers will continue to buy a good regardless of price.
Price inelastic means that the supply or demand of a product or service is unaffected by any changes in the price.
There are 2 different types price elasticity of demand and price elasticity of supply. If you meant to ask is demand for coal price elastic on inelastic, answer is yes, it is price inelastic. The demand for coal, is unlikely to drop much even if the price of it increases, it can be said that it is a 'necessity'. Since the quantity demanded decreases less than proportionate than the increase in price, it is said to be price inelastic.
when price changes it is called inelastic demand and when quantity of demand change that is called elastic of demand.
elastic
Increase. Inelastic demand means that most consumers will continue to buy a good regardless of price.
inelastic demand
Demand is inelastic when changes the in price of a commodity do not effect (or have very little effect) the quantity of that product demanded. For most commodities, demand decreases with price increases and demand increases with price decreases.
A perfectly inelastic demand curve will be completely horizontal and means that consumers would any price for a particular good, which is almost impossible. The closer to being horizontal a demand curve is, the more inelastic the demand.
boobs
See the related link. A perfectly inelastic demand would be a line straight up and down. That would show that demand is constant regardless of the price.
Inelastic demand means a situation in which the demand for a product does not increase or decrease correspondingly with a fall or rise in its price. From the supplier's viewpoint, this is a highly desirable situation because price and total revenue are directly related; an increase in price increases total revenue despite a fall in the quantity demanded. An example of a product with inelastic demand is gasoline. Refer to link below.
price elasticity of food would be inelastic, as there are no substitutes and food is a necessity.