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Choose the Correct Answer : Perfectly Elastic Demand Curve is _________. - Economics

MCQ

Choose the correct answer :                

 Perfectly elastic demand curve is _________. 

Options

  • (a) parallel to ‘X’ axis 

  • (b) parallel to ‘Y’ axis 

  • (c) upward sloping 

  • (d) downward sloping 

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Solution


4. Perfectly elastic demand curve is parallel to 'X' axis.
Explanation:
Perfectly elastic demand means that the quantity demanded changes infinitely with a change in the price of a good. It is represented by a horizontal straight line demand curve which is parallel to 'X' axis.

Concept: Factors Affecting Price Elasticity of Demand
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