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प्रश्न
With the help of a diagram define perfectly elastic demand.
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उत्तर
The demand curve runs parallel to the x-axis. A little change in price results in an indefinitely huge change in the quantity needed. The demand curve represents completely elastic demand for the commodity.
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संबंधित प्रश्न
Which of the following goods has elastic demand?
Mention one example of inelastic demand. Give a reason in support of your answer.
For the following list of goods state whether the demand is elastic or inelastic. Give reasons:
Rice in West Bengal
Mention the degree of price elasticity of demand for the following goods:
Medicine
When is the demand of a commodity said to be inelastic?
When is the demand for a commodity said to be perfectly inelastic?
The value of price elasticity of demand is 0.8. Is demand elastic or inelastic? Give reason.
Explain the different types of price elasticity of demand.
What is the price elasticity of demand for the following demand curve?
Straight line demand curve parallel to X-axis.
A list of goods is given below. state whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.
Demand for precious stones and costly jewellery
