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Identify and define the degrees of elasticity of demand from the following demand curve. - Economics

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Identify and define the degrees of elasticity of demand from the following demand curve.

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Solution

Perfectly Inelastic Demand: When a change in the price has no effect on the quantity demanded of a commodity, it is called perfectly inelastic demand. In this case, Ed = 0.

Concept: Types of Price Elasticity of Demand
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Balbharati Economics 12th Standard HSC Maharashtra State Board
Chapter 3.2 Elasticity of Demand
Exercise | Q 7. (1)(a) | Page 36
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