Advertisements
Advertisements
Questions
When is the demand for a commodity said to be perfectly inelastic?
What do you mean by perfectly inelastic demand?
Advertisements
Solution
When quantity demanded of a good does not change at all in response to change in its price, it is called perfectly inelastic demand.
APPEARS IN
RELATED QUESTIONS
Draw a diagram showing a perfectly elastic demand curve.
Which is the implication of a horizontal demand curve?
Draw a diagram showing elasticity of demand less than one.
For the following list of goods state whether the demand is elastic or inelastic. Give reasons:
Rice in West Bengal
Mention the degree of price elasticity of demand for the following goods:
Medicine
Study the statement given below and state whether demand will be elastic or inelastic, citing reasons for your answer.
A consumer postpones the purchase of a refrigerator till the off-season sale.
How do we determine whether the demand for a particular commodity is elastic or inelastic?
What is meant by unitary elastic demand?
State whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.
Demand for personal computers
Sate 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
