Why is perfectly inelastic demand curve …
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Posted by Simran Vishwakarma 5 years, 1 month ago
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Gaurav Seth 5 years, 1 month ago
Perfectly inelastic demand implies that there is no change in quantity demanded with a change in the prices of that good. This is shown on a graph by a straight line parallel to 'Y' axis. In case of perfectly inelastic demand the curve is a vertical straight line parallel to 'OY' axis. This is because the change in price of the product or service has no impact on the quantity demanded as the elasticity is equal to zero.
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