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kherson [118]
1 year ago
6

If demand for a good is inelastic, what would the demand curve for this good look like?

Business
1 answer:
Mandarinka [93]1 year ago
8 0

Downward sloping and relatively steep.

Demand for good is said to be inelastic when there is less change in quantity demanded due to more change in price.

If there is 5% change in price of the good or services , there will be less than 5 % change in quantity demanded.

Perfectly inelastic demand refers to the no change in the quantity demanded due to change in price .

Perfectly inelastic demand curve will be vertical straight line parallel to y axis.

some examples are essential items such as medicines , it is essential for life, so consumer will buy no matter what the price is.

To know more about perfectly inelastic:

brainly.com/question/14450755

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