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Login62. What is the degree of elasticity of demand in case of the following demand curves i)Straight lino parallel ito X-axis ?ii) straight lino parallel to y-axisiii) A rectangular hyperbola curve
Economy Secondary School in Economy 1 year ago
tion:For a horizontal demand curve parallel to the X axis, the elasticity is infinite. In other words, the demand is perfectly ELASTIC: a small CHANGE in price causes a large DECREASE in QUANTITY demanded.
Posted on 05 Aug 2024, this text provides information on Economy related to Secondary School in Economy. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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