Question

if as a result of change in price of the commodity there is no changr in the demand of the commodity then the demand of that commodity our options are. perfectly elastic 2.perfectly inelastic 3.unitary elastic 4.more than unitary elastic ​

Answer 1

Answer:

Thus, such goods have elastic demand. Perfectly inelastic demand implies that the demand for the commodity is completely unresponsive to the change in the price of the commodity. That is, a change in price has no effect on the demand. A specific quantity of the good would be demanded no matter the price.

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Answer 2

Answer:

When demand is inelastic, an increase in the price of a commodity would cause the total expenditure of the consumers to increase. As demand is inelastic, demand does not respond to the change in price, now when the price rises the expenditure also increases since we know, expenditure is the product of price and quantity demanded.

Thus, such goods have elastic demand. Perfectly inelastic demand implies that the demand for the commodity is completely unresponsive to the change in the price of the commodity. That is, a change in price has no effect on the demand. A specific quantity of the good would be demanded no matter the price.

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