6 Views

Question : A perfectly elastic demand curve is:

Option 1: Horizontal.

Option 2: Vertical.

Option 3: Upward-sloping.

Option 4: Downward-sloping.


Team Careers360 17th Jan, 2024
Answer (1)
Team Careers360 18th Jan, 2024

Correct Answer: Horizontal.


Solution : The correct answer is (a) Horizontal.

A perfectly elastic demand curve is represented by a horizontal line. It means that even a slight change in price will result in an infinite change in quantity demanded. In other words, consumers are extremely responsive to changes in price, and they will only purchase the good or service at a specific price. As a result, the quantity demanded can change significantly without any change in price.

Related Questions

UPES Integrated LLB Admission...
Apply
Ranked #28 amongst Institutions in India by NIRF | Ranked #1 in India for Academic Reputation by QS University Rankings | 16.6 LPA Highest CTC
Jindal Global Law School Admi...
Apply
Ranked #1 Law School in India & South Asia by QS- World University Rankings | Merit cum means scholarships | Application Deadline: 31st Jan'25
Chandigarh University Admissi...
Apply
Ranked #1 Among all Private Indian Universities In QS Asia Rankings 2025 | Scholarships worth 210 CR
Great Lakes PGPM & PGDM 2025
Apply
Admissions Open | Globally Recognized by AACSB (US) & AMBA (UK) | 17.3 LPA Avg. CTC for PGPM 2024 | Application Deadline: 1st Dec 2024
ISBR Business School PGDM Adm...
Apply
180+ Companies | Highest CTC 15 LPA | Average CTC 8 LPA | Ranked as Platinum Institute by AICTE for 6 years in a row | Awarded Best Business School...
Nirma University Law Admissio...
Apply
Grade 'A+' accredited by NAAC
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books