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How much does vdrinking water cost?

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Anonymous

11y ago
Updated: 8/16/2019

i) "If the demand curve is vertical, elasticity is zero"

Price Elasticity of Demand captures the shift in demand for rises in prices in percentage terms. Therefore if a commodity is such that no matter what price the producer charges the consumer has no alternative but to buy it, then for any price the demand for that commodity remains unaltered, maybe an example is a monopolist salt producer. Therefore the demand curve must be vertical, no matter what the price the quantity demanded is same, hence the price elasticity is zero.

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Wiki User

11y ago

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