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What is constant elasticity of demand?

Asked by Topperlearning User 25th April 2016, 9:33 AM
Answered by 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 Expert 25th April 2016, 11:33 AM
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