Under Perfect Competition the demand curve is perfectly elastic. I don't know if that helps but it might
Perfect competition is perfectly elastic (taken from my Economics textbook)...still searching on the other three.
A good's demand is considered perfectly inelastic when that good's demand does not change, no matter the price set. No matter how big or small the price change is. I would pay any price for air.
In perfect competition prices are fixed, Average revenue is also same for all units of goods.
Demand curve will be perfect inelastic
Answer this question… A. When the price of a good goes up, consumers shift their demand to its substitute. B. Substitute goods have perfect unit elasticity for each other. C. Substitute goods tend to have inelastic demand. D. One of the substitutes is usually elastic, while the other is inelastic.
there are five types.1).perfect elastic demand,2)perfect inelastic demand,3).relatively elastic demand,4).relatively inelastic demand4).unity elastic demand
Perfect Competition
Perfect competition is perfectly elastic (taken from my Economics textbook)...still searching on the other three.
Perfect competition is perfectly elastic (taken from my Economics textbook)...still searching on the other three.
A good's demand is considered perfectly inelastic when that good's demand does not change, no matter the price set. No matter how big or small the price change is. I would pay any price for air.
In perfect competition prices are fixed, Average revenue is also same for all units of goods.
IBM is a company, so it can't be a perfect competition. Only industries can be a perfect competition, or not.
Demand curve will be perfect inelastic
Answer this question… A. When the price of a good goes up, consumers shift their demand to its substitute. B. Substitute goods have perfect unit elasticity for each other. C. Substitute goods tend to have inelastic demand. D. One of the substitutes is usually elastic, while the other is inelastic.
Perfect competition to what. Please be specific.
No, Perfect Competition is just an imaginary one and it does not exist at all.
Perfect Competition