Answer to Question #197920 in Microeconomics for aniket nayak

Question #197920

Sudhrusti has been working in the banking sector for a long time. She switched jobs and now works for Goldman Sachs and has got a very large salary. She used to mostly eat at her local cheap Chinese restaurant and wore normal clothing, but now she eats at expensive restaurants and wears luxurious clothing. Which type of elasticity of demand concept is best applicable for Sudhrusti changed habit?

Expert's answer

Perfectly Inelastic Demand

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