Question

In case of relatively more elastic demand the shape of the curve is
a. Horizontal
b. Vertical
c. Steeper
d. Flatter

Answer 1

horizontal is answer............,,,,

Answer 2

If the curve is not steep, but instead is shallow, then the good is said to be “elastic” or “highly elastic.” This means that a small change in the price of the good will have a large change in the quantity demanded. If the curve is perfectly flat (horizontal), then we say that it is perfectly elastic.