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Money Supply and Inflation

What is perfe...

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What is perfectly elastic demand?

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Solution

Demand curve is parallel to X- axis n case of perfectly elastic demand. A perfectly elastic demand refers to the situation when demand is infinite at the prevailing price.

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What is meant by perfectly elastic demand?

Q. Distinguish between:

1. Perfectly elastic demand and perfectly inelastic demand

2. Relatively elastic demand and relatively inelastic demand

Q. Perfectly elastic demand curve is _____ .

Q. Perfectly elastic demand curve signifies that _________.

Q.
Show withe the help of diagrams, the effect on equilibrium price and quantity when:
(i) demand is perfectly elastic and supply decreases.
(ii) supply is perfectly elastic and demand increases.

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