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प्रश्न
With the help of a graph explain a perfectly inelastic demand curve.
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उत्तर
Perfectly Inelastic Demand: When the quantity demanded does not change at all as a result of a change in the price of the commodity, the demand for that commodity is said to be perfectly inelastic. In such a case, quantity demanded is independent of price changes.
Demand here is nonresponsive and the numerical value of price elasticity (Ed) will be zero. The demand curve will be parallel to the Y-axis as shown in Figure. In the figure, demand (OQ) is fixed. If price increases or decreases, it still remains unchanged. This type of situation is normally not found in real life.
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संबंधित प्रश्न
Analyse the given graphs and identify the type of elasticity of demand of:
- Picture 1
- Picture 2
Which of the following goods have inelastic demand?
From the following goods, demand for which is inelastic?
For the following list of goods state whether the demand is elastic or inelastic. Give reasons:
Bicycles
Mention the degree of price elasticity of demand for the following goods:
Medicine
Mention the degree of price elasticity of demand for the following goods:
School uniform
Indicate the degree of elasticity demand of the following demand curves.
When is the demand for a commodity said to be perfectly inelastic?
Explain the different types of price elasticity of demand.
What is the price elasticity of demand for the following demand curve?
Rectangular hyperbola
