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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.
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संबंधित प्रश्न
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Demand is inelastic for ______.
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Study the table given below and state whether demand is elastic or inelastic. Give reasons for your answer.
| Price in ₹ | Total outlay ₹ |
| 5 | 25 |
| 3 | 18 |
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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?
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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.
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