What is the shape of demand curve, in case of relatively more elastic demand?
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Answer:
flatter curve
A flatter curve is relatively more elastic than a steeper curve. Availability of substitutes, a goods necessity, and a consumers income all affect the relative elasticity of demand.
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Answer:
ʜᴏʀɪᴢᴏɴᴛᴀʟ ᴅᴇᴍᴀɴᴅ ᴄᴜʀᴠᴇ
Explanation:
ᴘᴇʀғᴇᴄᴛʟʏ ᴇʟᴀsᴛɪᴄ ɢᴏᴏᴅs ʜᴀᴠᴇ ᴀ ʜᴏʀɪᴢᴏɴᴛᴀʟ ᴅᴇᴍᴀɴᴅ ᴄᴜʀᴠᴇ (η = -∞).
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