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Q2) What are three distinct cases where elasticity of demand is the same at all points of thedemand curve ? please answer this question
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Q2) What are three distinct cases where elasticity of demand is the sa...
as Ed is % change in quantity in response to % change in own price of commodity. when Ed= 1, % change in quantity= % change in price according to rectangular hyperbola , when both these are equal Ed is same at all points of demand curve . As Ed = 0 only when % change in quantity is 0 and when quantity does not change it becomes constant and Ed becomes parallel to y axis therefore Ed is same at all points . Ed is infinite only when % change in price is 0 and when price does not change it becomes constant and Ed becomes parallel to x axis , therefore Ed is same at all points of demand curve .
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Q2) What are three distinct cases where elasticity of demand is the sa...
three distinct cases are : (1). when Ed = 1, (2) when Ed = 0 , (3) when Ed is infinite .
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Q2) What are three distinct cases where elasticity of demand is the same at all points of thedemand curve ? please answer this question
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