When the price customers are willing to pay does not change, no matter what the variations in quantity demanded are. It is represented as a horizontal line along the price line. It's technically impossible, although some things can come very close.
yes the demand curve is perfectly inelastic and horizontal
When supply and demand are perfectly elastic/inelastic
The demand curve would be perfectly elastic.
perfectly elastic demand function.
Because it is basically curved shape, therefore, there are points/areas on the curve where the demand or supply will be elastic and on some other parts be inelastic. At the top of the curve, demand/supply tends to be inelastic and at the bottom of the curve, it tends to be elastic. Obviously, the more you go up the more we reach the perfectly inelastic demand/supply and the further you go down the curve, the more you reach the perfectly elastic demand/supply
yes the demand curve is perfectly inelastic and horizontal
When supply and demand are perfectly elastic/inelastic
The demand curve would be perfectly elastic.
A perfectly elastic demand curve means that the quantity demanded changes infinitely with a change in price, while a perfectly inelastic demand curve means that the quantity demanded remains constant regardless of price changes.
perfectly elastic demand function.
The price
Because it is basically curved shape, therefore, there are points/areas on the curve where the demand or supply will be elastic and on some other parts be inelastic. At the top of the curve, demand/supply tends to be inelastic and at the bottom of the curve, it tends to be elastic. Obviously, the more you go up the more we reach the perfectly inelastic demand/supply and the further you go down the curve, the more you reach the perfectly elastic demand/supply
Under Perfect Competition the demand curve is perfectly elastic. I don't know if that helps but it might
it is the graphic representation of the changes in demand due to the availability of equal important substitude.
Yes, the demand curve is elastic in this region.
Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.
The demand for perfectly elastic goods in the market is determined by factors such as the availability of close substitutes, consumer preferences, and the price of the good. When there are many substitutes available, consumers are more likely to switch to a different product if the price changes, leading to a perfectly elastic demand curve.