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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.
Wiki User
∙ 14y ago
Wiki User
∙ 13y agoPerfect inelastic is when changes in price does not affect the supply or demand of the product or service.
Wiki User
∙ 11y agoThe demand for a good is perfectly elastic only when a very small change in the price of the good brings about infinite change in its demand.
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What is perfect elastic demand give some example?
no
How is elastic demand represent graphically?
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.
Under perfect competition is average revenue curve elastic or inelastic?
Under Perfect Competition the demand curve is perfectly elastic. I don't know if that helps but it might
What does A perfect elastic supply curve look like?
Demand and cost are inversely related, i.e., as the cost goes up, the demand goes down, and as cost goes down, demand goes up. So any two cost-demand curves are are inversely related constitute a perfect elastic supply curve.
Demand and its types?
Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.
What are the types of price elasticity of demand?
there are five types.1).perfect elastic demand,2)perfect inelastic demand,3).relatively elastic demand,4).relatively inelastic demand4).unity elastic demand
What is perfect elastic demand give some example?
no
How is elastic demand represent graphically?
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.
In what kind of market is the price demand the most elastic?
Perfect Competition
Under perfect competition is average revenue curve elastic or inelastic?
Under Perfect Competition the demand curve is perfectly elastic. I don't know if that helps but it might
What does A perfect elastic supply curve look like?
Demand and cost are inversely related, i.e., as the cost goes up, the demand goes down, and as cost goes down, demand goes up. So any two cost-demand curves are are inversely related constitute a perfect elastic supply curve.
Demand and its types?
Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.
When demand is elastic?
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.
How could coal have perfect elastic demand?
It could be perfectly elastic if the population demanded whatever can be supplied of coal at one price and no other. Its elasticity would have to be infinite.
When a firm's marginal revenue is zero what can be said about the elasticity of demand for the output of the firm A. Demand is inelastic. B. Demand is elastic. C. Demand is unit elastic.?
Demand is unit elastic.
Is fruit elastic or inelastic demand?
elastic
Difference between elastic and inelastic demand?
difference between elastic and inelastic demand
