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प्रश्न
When is the demand for a commodity said to be perfectly inelastic?
What do you mean by perfectly inelastic demand?
उत्तर
When quantity demanded of a good does not change at all in response to change in its price, it is called perfectly inelastic demand.
संबंधित प्रश्न
Answer the following question.
Explain the geometric method of calculating the elasticity of supply.
Degrees of price elasticity of demand is of ______ types.
The demand curve is horizontal
What will be the value of price elasticity in this case?
If elasticity of demand for salt is zero, and household demands 2 kg. of salt during one month when its price is ₹ 5 per kg., this household will demand the same quantity of salt even if price rises to ₹ 8 per kg.
Match the following and select the correct option.
| Column I | Column II | ||
| (i) | Perfectly elastic demand | A. | Ed = 0 |
| (ii) | Perfectly inelastic demand | B. | Ed = ∞ |
| (iii) | Relatively elastic demand | C. | Ed < 1 |
| (iv) | Relatively inelastic demand | D. | Ed > 1 |
Would the elasticity of demand in the following case be unity, less than unity or greater than unity?
A fall in the price of a commodity increases total expenditure.
Draw a diagram showing the Elasticity of demand less than one.
For each of the following, state whether it has inelastic demand or elastic demand:
- Luxury cars
- Life saving drugs
- Salt
- English textbook of class X
What is price elasticity of demand for life saving drugs?
Explain the different types of price elasticity of demand.
