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CBSE Class 12-commerce Answered

What is constant elasticity of demand?
Asked by Topperlearning User | 25 Apr, 2016, 09:33: AM
answered-by-expert Expert Answer

The elasticity of demand on different points of a demand curve is different varying from 0 to α. In certain case, the demand curve can be presented where the elasticity of demand remains constant itself. A price change never leads to a change in the demand for that demand curve and the elasticity of demand is always zero. Thus, the vertical demand curve is perfectly inelastic.

Answered by | 25 Apr, 2016, 11:33: AM
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