boobs
A perfectly inelastic demand curve will be completely horizontal and means that consumers would any price for a particular good, which is almost impossible. The closer to being horizontal a demand curve is, the more inelastic the demand.
See the related link. A perfectly inelastic demand would be a line straight up and down. That would show that demand is constant regardless of the price.
Price elasticity is a specific type of slope of the demand curve. A perfectly inelastic demand means that the quantity will not change with the price. This line is perfectly vertical. A perfectly elastic demand curve is horizontal and means that at any given quantity, there is only one price. Also, a slope gets steeper, demand becomes more inelastic.
faces a demand curve that is inelastic throughout the range of market demand. faces a perfectly inelastic demand curve. is a price maker. is also able to dictate the quantity purchased
When the demand curve is horizontal to the x axis, it is said to be elastic and therefore more responsive to changes in price. When the demand curve is vertical, it is more inelastic and consumers will be more apt to purchase a good regardless of the price.
A perfectly inelastic demand curve will be completely horizontal and means that consumers would any price for a particular good, which is almost impossible. The closer to being horizontal a demand curve is, the more inelastic the demand.
faces a demand curve that is inelastic throughout the range of market demand. faces a perfectly inelastic demand curve. is a price maker. is also able to dictate the quantity purchased
A verticle demand curve, where a change in price does not effect quantity.
See the related link. A perfectly inelastic demand would be a line straight up and down. That would show that demand is constant regardless of the price.
Price elasticity is a specific type of slope of the demand curve. A perfectly inelastic demand means that the quantity will not change with the price. This line is perfectly vertical. A perfectly elastic demand curve is horizontal and means that at any given quantity, there is only one price. Also, a slope gets steeper, demand becomes more inelastic.
A monopoly typically produces in the inelastic part of the demand curve because it has control over the quantity supplied and can set prices higher without losing too many customers. This allows the monopoly to maximize its profits by charging higher prices for its products.
faces a demand curve that is inelastic throughout the range of market demand. faces a perfectly inelastic demand curve. is a price maker. is also able to dictate the quantity purchased
When the demand curve is horizontal to the x axis, it is said to be elastic and therefore more responsive to changes in price. When the demand curve is vertical, it is more inelastic and consumers will be more apt to purchase a good regardless of the price.
A perfectly price-inelastic demand curve is vertical (Parallel to Y-axix) because the percentage change in quantity demanded is nil whatever the percentage change happens in price.
because the ordinary demand curve ignores the income effect of price changes.also since the compensated demand curve is less inelastic than an ordinary demand curve.
Price inelastic
Inelastic demand means a situation in which the demand for a product does not increase or decrease correspondingly with a fall or rise in its price. From the supplier's viewpoint, this is a highly desirable situation because price and total revenue are directly related; an increase in price increases total revenue despite a fall in the quantity demanded. An example of a product with inelastic demand is gasoline. Refer to link below.