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Which products included in the case of demand curve is inelastic and supply curve is perfectly elastic?
Some of the products which are considered perfectly inelastic are rice, fish, meat, etc., or in short is our basic nessecities. These products are under the perfect competetive market structure that's why if the firms increase its price still, the consumers are tend to buy it cause they dont have other choice but its substitute goods. Some of the products which are considered perfectly inelastic are rice, fish, meat, etc., or in short is our basic nessecities. These products are under the perfect competetive market structure that's why if the firms increase its price still, the consumers are tend to buy it cause they dont have other choice but its substitute goods.
What else can I help you with?
If the elasticity equals 0 is demand perfectly elastic or perfectly inelastic?
it is perfectly inelastic
Demand and its types?
Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.
How do you determine if a collision was elastic inelastic or perfectly inelastic?
just check momentum before and after and if they're the same then elastic if not then inelastic.
Different degrees of elasticity of demand?
Perfectly elastic demand. Relative elastic demand. Unit elasticity of demand. Relative inelastic demand. Perfectly inelastic demand.
Distinguish between elastic and inelastic demand?
An example of perfectly inelastic demand would be a life-saving drug that people will pay any price to obtain. Elastic demand is the opposite of this.
If the elasticity equals 0 is demand perfectly elastic or perfectly inelastic?
it is perfectly inelastic
Demand and its types?
Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.
How do you determine if a collision was elastic inelastic or perfectly inelastic?
just check momentum before and after and if they're the same then elastic if not then inelastic.
Different degrees of elasticity of demand?
Perfectly elastic demand. Relative elastic demand. Unit elasticity of demand. Relative inelastic demand. Perfectly inelastic demand.
What is the difference between a perfectly elastic and a perfectly inelastic demand curve in economics?
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.
Distinguish between elastic and inelastic demand?
An example of perfectly inelastic demand would be a life-saving drug that people will pay any price to obtain. Elastic demand is the opposite of this.
The labor demand curve of a purely competitive seller perfectly elastic?
yes the demand curve is perfectly inelastic and horizontal
When does supply curve look like a demand curve?
When supply and demand are perfectly elastic/inelastic
If the elasticity is greater than 1 is demand elastic or inelastic If the elasticity equals 0 is demand perfectly elastic or perfectly inelastic?
If the elasticity is greater than 1, demand is considered elastic, meaning that consumers are highly responsive to price changes. Conversely, if the elasticity equals 0, demand is perfectly inelastic, indicating that quantity demanded does not change regardless of price fluctuations. In this case, consumers will purchase the same amount no matter the price.
What is the different between Perfectly inelastic supply and inelastic supply?
Perfectly elastic supply curve: The supply of a commodity will be perfectly elastic when its price remain constant but supply changes to any extent.The supply curve will be parallel to x axis.The numerical value of elasticity of supply will be infinity. Perfectly inelastic supply curve: The supply of a commodity will be perfectly inelastic when its supply remain constant but price changes to any extent.The supply curve will be parallel to y axis.The numerical value of elasticity of supply will be zero.
Is the price and demand for junk food elastic or inelastic?
elastic
What will be the total higher quantity do in the elastic inelastic and unit-elastic?
The midpoint between elastic and inelastic is unit elastic
