How has the elasticity demand for hand santitizers have changed? (due to the COVID PANDEMIC)
Due to the COVID pandemic, as doctors and health journals recommend washing our hands in every 2 hours, these articles have raised the demand for hand sanitizers sharply and people will buy hand sanitizers even when price of hand sanitizers increease. Hence here 1% increase in the price of hand sanitizer will cause a less than 1% decline in the quantity demanded of hand sanitizers. Hence demand for hand sanitizers have become relatively inelastic i.e the absolute value of elasticity for hand sanitizers have declined.
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