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प्रश्न
What is the implication of a vertical demand curve?
विकल्प
Perfectly inelastic demand
Perfectly elastic demand
Relatively inelastic demand
Unitary elastic demand
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उत्तर
Perfectly inelastic demand
Explanation:
A vertical demand curve implies that the quantity demanded does not change regardless of price changes, which is the definition of perfectly inelastic demand.
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संबंधित प्रश्न
A 5 percent fall in the price of a good raises its demand from 300 units to 318 units. Calculate its price elasticity of demand.
Explain the effect of the following on the price elasticity of demand of a commodity:
(i) Number of substitutes
(ii) Nature of the commodity
When price of a commodity falls by Rs 1 per unit, its quantity demanded rises by 3 units. Its price elasticity of demand is (−) 2. Calculate its quantity demanded if the price before the change was Rs 10 per unit.
State whether the following statements are TRUE or FALSE :
The demand of foodgrains is inelastic.
Elasticity of demand for two goods A and B is -2 and -3 respectively. Then good A has higher elasticity.
How does the availability of substitutes of a commodity affect its price elasticity of demand?
Comment upon the shape of the demand curve, if Ed = 0.
How does the nature of a commodity affect its price elasticity of demand?
How does the time period affect the elasticity of demand?
Which statement correctly describes the relationship between postponement and price elasticity?
