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Theory of demand

Economics

The answer is infinity. Please explain.

Satya balaji

CA Foundation

★ 19K+

16-Dec-23 17:49

264

Answers (2)

Basically point elasticity from demand 0 to demand x. Check page 2.22, figure 7 of the Economics textbook

Vishnu

CA Inter

★ 32K+

06-Jan-24 09:04

For a straight-line demand curve, the price elasticity of demand changes at different points along the curve. At the point where the demand curve meets the y-axis, the price is at its maximum and the quantity demanded is zero. At this point, no matter how much the price changes, the quantity demanded remains zero.

frenil dsouza

Faculty

19-Jan-24 17:35

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