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22 October, 08:30

A perfectly elastic demand curve a. Is a horizontal line parallel to the x axis b. Has an elasticity of demand between 0 and 1 c. Is the demand curve of a product that usually has no substitutes d. None of the above

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  1. 22 October, 10:48
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    a. Is a horizontal line parallel to the x axis

    Explanation:

    The perfectly elastic demand curve is a demand curve that is horizontal to the X-axis. Moreover, there is a fixed price but the quantity demanded is changing at the same price.

    And we already know that The price and the quantity demanded are inversely proportional to each other. It shows a negative relationship that means if the price is increased, the quantity demanded is decreased and vice versa
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Home » Business » A perfectly elastic demand curve a. Is a horizontal line parallel to the x axis b. Has an elasticity of demand between 0 and 1 c. Is the demand curve of a product that usually has no substitutes d. None of the above
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