The demand is elastic when the price is low. So people will buy more good so that it's demand will become more elastic. Moreover ,the demand is elastic when there are some new inventions.
Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.
Demand is unit elastic.
elastic
difference between elastic and inelastic demand
Perfectly elastic demand. Relative elastic demand. Unit elasticity of demand. Relative inelastic demand. Perfectly inelastic demand.
there are five types.1).perfect elastic demand,2)perfect inelastic demand,3).relatively elastic demand,4).relatively inelastic demand4).unity elastic demand
Highly elastic.
A perfectly elastic demand is represented on the traditional supply and demand graph with a straight horizontal line. An elastic demand that is not perfect would be represented as any line with a slope between 0 and -1.
Elastic demand means something increases or decreases as the price of an item goes down or up.
If ep = dQ/dP.P/Q = infinity, the demand is perfectly elastic.
When Demand is perfectly elastic, Marginal Revenue is identical with price.
elastic