Question

What will be the shape of demand curve when demand for a commodity is highly elastic?plz tell fast

Answer 1

Answer:

Perfectly elastic demand is represented graphically as a horizontal line. In this case, any increase in price will lead to zero units demanded.

Explanation:

OK

Answer 2

Answer:

If a demand curve is perfectly vertical (up and down) then we say it is perfectly inelastic. 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.

Explanation:

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