Question

Comment upon the shape of the demand curve if the price of a commodity rises by 10% and there is no change in its quantity demanded

Answer 1

if the price of a commodity rises by 10% and there is no change in its quantity demanded , the shape of the demand is perpendicular to x -axis and becomes perfectly inelastic demand.

Answer 2

Answer:  Perfectly inelastic demand curve.

Explanation:

The shape of demand curve is vertical which is known as Perfectly inelastic demand curve. If the quantity demanded for the product remains the same whether price increases or decreases.

Therefore, if commodity prices rises by 10% then there will be no change in the quantity demanded. Hence, the shape of the demand curve is perfectly elastic.