13.Perpectly elastic demand
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Perpectly
inelastic demand
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1. Meaning
If the % change in
quantity demanded of a commodity is infinite to any change in its price, the
demand is said to be perfectly elastic demand.
2.
Numerical Value
The numerical
value of perfectly elastic demand in infinitive
3.
Examples.
Demand for atmospheric
air if it is priced
|
If the % change in
quantity demanded of a commodity is Zero to any change in its price, the
demand is said to be perfectly inelastic demand.
The numerical value of perfectly elastic
demand in Zero
Demand for absolute necessities such as food for survival and basic clothes
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PERPECTLY ELASTIC DEMAND PERPECTLY INELASTIC DEMAND
