Advertisements
Advertisements
Question
Analyse the given graphs and identify the type of elasticity of demand of:
- Picture 1
- Picture 2
Solution
Picture 1: Perfectly elastic demand ep = ∞
Picture 2: Perfect inelastic demand ep = 0
APPEARS IN
RELATED QUESTIONS
Which of the following goods have inelastic demand?
In case of Ed = 0, demand curve is ______.
Mention one example of inelastic demand. Give a reason in support of your answer.
Draw a diagram showing elasticity of demand less than one.
For the following list of goods state whether the demand is elastic or inelastic. Give reasons:
Bicycles
Mention the degree of price elasticity of demand for the following goods:
Cosmetics
Mention the degree of price elasticity of demand for the following goods:
School uniform
Explain the different types of price elasticity of demand.
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 personal computers
