Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.
elastic
Unit elastic
Perfectly elastic demand. Relative elastic demand. Unit elasticity of demand. Relative inelastic demand. Perfectly inelastic demand.
Highly elastic.
Demand is unit elastic.
Perfectly inelastic demand, perfectly elastic demand, elastic demand, inelastic demand etc.
The demand is elastic when the price is low. So people will buy more good so that it's demand will become more elastic. Moreover ,the demand is elastic when there are some new inventions.
elastic
Unit elastic
Elastic
difference between elastic and inelastic demand
Perfectly elastic demand. Relative elastic demand. Unit elasticity of demand. Relative inelastic demand. Perfectly inelastic demand.
there are five types.1).perfect elastic demand,2)perfect inelastic demand,3).relatively elastic demand,4).relatively inelastic demand4).unity elastic demand
Highly elastic.
When the percentage change in price is equal to the percentage change in quantity demanded then demand is said to be unit elastic. There are 3 kinds of price elasticity of demand.
A perfectly elastic demand is represented on the traditional supply and demand graph with a straight horizontal line. An elastic demand that is not perfect would be represented as any line with a slope between 0 and -1.