Question

What is perfectly elastic demand? Explain with the help of an example and diagram

Answer 1

Answer:

In perfectly elastic demand, a small rise in price results in fall in demand to zero, while a small fall in price causes increase in demand to infinity. In such a case, the demand is perfectly elastic or ep = 00. ADVERTISEMENTS: The degree of elasticity of demand helps in defining the shape and slope of a demand curve.

Explanation:

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Answer 2

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