Two columns are given- Column I and Column II , each having some statements. Match statements in column I to that in column II.
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i-a, ii-b, iii-c, iv-d i-a, ii-b, iii-d, iv-c i-a, ii-c, iii-b, iv-d i-b, ii-c, iii-a, iv-d |
i-a, ii-b, iii-c, iv-d |
Horizontal demand curve - where market price remains constant at P , whatever be the level of demand for the commodity. At any other price, quantity demanded drops to zero and therefore elasticity = infinity . A horizontal demand curve is perfectly elastic. Vertical demand curve - Whatever be the price, the demand is given at the level q . A price never leads to a change in the demand for such a demand curve and |eD| is always 0. Therefore, a vertical demand curve is perfectly inelastic. The elasticity of demand is different at different points on a linear demand curve. At p = 0, the elasticity is 0, at q = 0, elasticity is infinity etc.
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