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3 years ago

When quantity demanded is completely unresponsive to price, what is the value of price elasticity of demand?

Business

1 answer:

skad [1K]3 years ago

6 0

Answer:

PeD = 0

Explanation:

Price elasticity of demand is the responsiveness of quantity demanded when there is a change in price. An elastic demand means that when price changes the quantity demanded changes by more than the proportionate change in price. measured as

Ped = % change in Quantity demanded / % Change in Price

An elasticity value of between 0 and 1 is regarded as inelastic demand as quantity changes by less than the proportionate change in price.

Value of 1 is considered unitary elastic as an equal proportionate change occurs.

Greater than 1 is elastic demand where the change is more than proportionate.

When there is absolutely no change the demand is perfectly inelastic and the demand curve is vertical. This yields a value of 0 as there is no observed change in quantity demanded given a change in price.

Hope that helps.

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3 years ago

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Answer:

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Explanation:

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3 years ago

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Ivenika [448]

Answer:

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Explanation:

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As per given information

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3 years ago

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Answer:

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Answer:

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Explanation:

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4 years ago

When quantity demanded is completely unresponsive to​ price, what is the value of price elasticity of​ demand?

When quantity demanded is completely unresponsive to price, what is the value of price elasticity of demand?