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.
Water cost £1.00
How much does a water frame cost?
how much do water rides cost
how much does it cost to build a big water plant?
Water cost £1.00
how much will water and electricity cost?
How much does it cost to replace a water pump on a bmw 325 i
The cost of a water bill in the 1950s cost about $3.50.
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it will cost 20$
It cost about 12 million dollars to make Falling Water
$3.50