PERPECTLY ELASTIC DEMAND PERPECTLY INELASTIC DEMAND

13.Perpectly elastic demand
Perpectly inelastic demand
1.      Meaning
If the % change in quantity demanded of a commodity is infinite to any change in its price, the demand is said to be perfectly elastic demand.

2.      Numerical Value
The numerical value of perfectly elastic demand in infinitive

3.      Examples.
Demand for atmospheric air if it is priced



If the % change in quantity demanded of a commodity is Zero to any change in its price, the demand is said to be perfectly inelastic demand.


The numerical value of perfectly elastic demand in Zero

 Demand for absolute necessities such as food for survival and basic clothes