At Westonci.ca, we make it easy to get the answers you need from a community of informed and experienced contributors. Get accurate and detailed answers to your questions from a dedicated community of experts on our Q&A platform. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.
Sagot :
When the price elasticity of demand for a good is very elastic, the quantity demanded is curved flat to a change in price and the demand curve is relatively higher.
The demand for an excellent is stated to be elastic (or notably elastic) whilst its PED is extra than one. In this case, adjustments in price have a greater than proportional effect on the quantity of a good demanded.
The perfectly elastic demand curve is horizontal straight line. this is because on the given fee the quantity demanded is countless, even supposing there is a slight exchange within the fee the demand turns into infinity, and consequently the curve is flat.
Whilst the fee elasticity of call for a good is perfectly inelastic (Ed = 0), changes within the price do now not affect the amount demanded for the good; raising costs will continually motive total revenue to grow.
Learn more about elastic demand here: https://brainly.com/question/13160920
#SPJ4
Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Find reliable answers at Westonci.ca. Visit us again for the latest updates and expert advice.
