Practicing Success
Practicing Success
CUET Preparation Today
If there is no change in demand for good X with the change in the price of good X, then the price elasticity of demand for good X is:- |
Perfectly elastic Perfectly inelastic Unitary elastic Greater than 1 |
Perfectly inelastic |
When there is no change in the quantity demanded with a change in price, it is called a perfectly inelastic demand curve. It is mostly seen in the case of necessities for ex: salt and medicines. Perfectly inelastic demand i.e. ed = 0. The following picture is a graphical representation of a perfectly inelastic demand curve:
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