When there is infinite demand at a particular price and demand becomes zero. With a slight rise in the price, then demand for such a commodity is said to be perfectly elastic. Here Ed =
Perfectly Inelastic demand.
When there is no change in demand with change in price, then demand for such commodity is said to be perfectly Inelastic. Ed = 0.
Q. Distinguish b/w perfectly elastic demand and perfectly Inelastic demand. Draw diagram also.
When there is infinite demand at a particular price and demand becomes zero. With a slight rise in the price, then demand for such a commodity is said to be perfectly elastic. Here Ed =
When there is no change in demand with change in price, then demand for such commodity is said to be perfectly Inelastic. Ed = 0.
In which of the following cases will the effect on PPC be same as that in case of endowment of resources on PPC:
- chng in production technique of capital goods
- chng in prodc'n tech of consumer goods
- " " " " " both consumer and capital goods
- None of above
ans is 3