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प्रश्न
Define perfectly elastic demand.
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उत्तर
Perfectly elastic demand means that quantity demanded will increase to infinity when the price decreases and quantity demanded will fall to zero when price increases.
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संबंधित प्रश्न
Draw a diagram showing a perfectly elastic demand curve.
Under what conditions does the supply of good exhibit unitary elasticity?
For the following list of goods state whether the demand is elastic or inelastic. Give reasons:
Bicycles
Indicate the degree of elasticity demand of the following demand curves.
A perfectly elastic demand curve is parallel to the X-axis. Why or why not?
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.
What is the price elasticity of demand for the following demand curve?
Rectangular hyperbola
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.
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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
