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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
Explain any two factors that affect the price elasticity of demand. Give suitable examples.
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.
The account in which the specific amount is deposited per month regularly is known as ______.
State whether demand will be Elastic or Inelastic. Give reasons for your answer.
The demand for salt by households.
Assertion (A): Demand for a commodity with large number of substitutes with be less elastic.
Reason (R): With large number of substitutes, even a small rise in its price will induce the buyers to go for its substitutes.
The nature of a commodity determines its price elasticity of demand. Explain.
State 3 factors which affect price elasticity of demand.
What type of demand characterizes necessity goods compared to luxury goods?
How does the time period affect the elasticity of demand?
