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प्रश्न
What is the shape of the perfectly inelastic demand curve?
लघु उत्तर
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उत्तर
This is Demand curve in a vertical straight line. The demand curve D1, which runs parallel to the Y-axis, is perfectly inelastic. Whether the price is OP or OP1, the quantity bought stays OQ. Even when it comes to basic requirements like food, there are relatively few instances of perfectly inelastic demand because price fluctuations can affect demand for these items. The demand for life-saving medications, on the other hand, is completely inelastic.
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