Advertisements
Advertisements
प्रश्न
With the help of a graph explain a perfectly inelastic demand curve.
उत्तर
Perfectly Inelastic Demand: When the quantity demanded does not change at all as a result of a change in the price of the commodity, the demand for that commodity is said to be perfectly inelastic. In such a case, quantity demanded is independent of price changes.
Demand here is nonresponsive and the numerical value of price elasticity (Ed) will be zero. The demand curve will be parallel to the Y-axis as shown in Figure. In the figure, demand (OQ) is fixed. If price increases or decreases, it still remains unchanged. This type of situation is normally not found in real life.
APPEARS IN
संबंधित प्रश्न
With the help of a graph explain the relatively inelastic demand for a commodity.
Analyse the given graphs and identify the type of elasticity of demand of:
- Picture 1
- Picture 2
Degrees of price elasticity of demand is of ______ types.
With the help of a diagram define perfectly elastic demand.
For the following list of goods state whether the demand is elastic or inelastic. Give reasons:
Matchboxes
For the following list of goods state whether the demand is elastic or inelastic. Give reasons:
Rice in West Bengal
Study the statement given below and state whether demand will be elastic or inelastic, citing reasons for your answer.
Demand for cigarettes by a habitual smoker.
A list of goods is given below. state whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.
demand for school uniform
A list of goods is given below. state whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.
demand for refrigerators
A list of goods is given below. state whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.
demand for electricity
