The price elasticity of demand is equal ti one for a demand curve, which is
Vertical line,
Rectangular hyperbola,
Horizontal line ,
Downward moving line
Answers
Answered by
13
vertical line elasticity of demand is equal it one for a demand
Answered by
0
The price elasticity of demand is equal to one for a demand curve, which is a rectangular hyperbola.
- A rectangular hyperbolic demand curve is used to depict unitary elastic demand.
- According to the whole outlay method, which maintains constant total expenditure over the demand curve, this makes sense.
- Price elasticity of demand measures how much a product's consumption changes in response to price changes.
- The demand for the good is said to be unitary elastic when the percentage change in the quantity demanded is equal to the percentage change in the price.
Similar questions
Math,
7 months ago
Social Sciences,
7 months ago
Biology,
7 months ago
Physics,
1 year ago
English,
1 year ago