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प्रश्न
Distinguish between:
Relatively Elastic Demand and Perfectly Elastic Demand
फरक स्पष्ट करा
उत्तर
| Relatively Elastic Demand | Perfectly Elastic Demand | |
| Meaning | A commodity's demand is said to be relatively elastic when a corresponding change in its price causes a greater than proportionate change in its quantity requested. | A commodity's demand is said to be completely elastic when a modest proportionate change in its price results in an infinite (unlimited) proportionate change in its quantity requested. |
| Numerical Value | The numerical value of demand elasticity is greater than one in the event of relatively elastic demand. (Ed > 1) | The numerical value of demand elasticity is infinite in the case of perfectly elastic demand. (Ed = ∞) |
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