Advertisements
Advertisements
प्रश्न
Define the form of market which has a perfectly elastic demand curve.
उत्तर
Perfectly competitive market has a perfectly elastic demand curve. It is a market in which large number of sellers and buyers exist. They have perfect knowledge about goods and services available in the market. This market deals with homogeneous goods and allows free entry and free exit for the firms.
APPEARS IN
संबंधित प्रश्न
Assertion (A): The recent war in Israel will impact key imports to India, which include rough cut and polished diamonds.
Reasoning (R): Diamonds are luxury goods having relatively elastic demand.
A demand curve which takes the form of a vertical line parallel to the price axis illustrates elasticity which is ______.
Match the following:
| Column I | Column II |
| A. Goods whose close substitutes are available | (i) Perfectly elastic demand |
| B. Goods whose demand cannot be postponed | (ii) Perfectly inelastic demand |
| C. Goods whose quantity demanded does not respond to price change | (iii) Elastic demand |
| D. Goods which are perfect substitutes | (iv) Inelastic demand |
Would the elasticity of demand in the following case be unity, less than unity or greater than unity?
A rise in the price of a commodity increases total expenditure.
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?
Indicate the degree of elasticity of demand of the following demand curve.
What is the price elasticity of demand for the following demand curve:
Straight line demand curve parallel to X-axis.
What is the price elasticity of demand for the following demand curve:
Straight line demand curve parallel to Y-axis.
What is the price elasticity of demand for the following demand curve:
Rectangular hyperbola.
