Perfectly elastic demand curve is _____ .vertical to Y axisflatterhorzontal to X axissteeper (2024)

Solve

Guides

You visited us 0 times! Enjoying our articles? Unlock Full Access!

A

horzontal to X axis

B

vertical to Y axis

C

flatter

D

steeper

Open in App

Solution

Verified by Toppr

Perfectly elastic demand curve is horizontal straight line. This is because at the given price the quantity demanded is infinite, even if there is a slight change in the price the demand becomes infinity and hence the curve is flat.

Was this answer helpful?

4

Similar Questions

Q

1

A perfectly elastic price-demand curve is parallel to the X - axis. Why or why not ?

View Solution

Q

2

Why is perfectly elastic demand curve parallel to X-axis?

View Solution

Q

3

Show with the help of a diagram, the effect on equilibrium price and quantity when:
(i) Demand is perfectly elastic and supply decreases.
(ii) Supply is perfectly inelastic and demand increases.
(iii) The demand curve is perfectly elastic and the supply curve shifts outwards.

View Solution

Q

4

Perfectly elastic demand curve is _____ .

View Solution

Q

5

Explain the conditions of perfect competition. Why is the demand curve facing a firm under perfect competition perfectly elastic?

View Solution

Perfectly elastic demand curve is _____ .vertical to Y axisflatterhorzontal to X axissteeper (2024)
Top Articles
Latest Posts
Article information

Author: Domingo Moore

Last Updated:

Views: 5971

Rating: 4.2 / 5 (73 voted)

Reviews: 80% of readers found this page helpful

Author information

Name: Domingo Moore

Birthday: 1997-05-20

Address: 6485 Kohler Route, Antonioton, VT 77375-0299

Phone: +3213869077934

Job: Sales Analyst

Hobby: Kayaking, Roller skating, Cabaret, Rugby, Homebrewing, Creative writing, amateur radio

Introduction: My name is Domingo Moore, I am a attractive, gorgeous, funny, jolly, spotless, nice, fantastic person who loves writing and wants to share my knowledge and understanding with you.