when the demand curve of a commodity is parallel to the x axis then th | Examsbook

508

Q:
When the demand curve of a commodity is parallel to the X-axis, then the demand for that commodity is elastic.

1
zero
2
unit
3
more than unit
4
complete

Show Answer
Workspace
Discuss

Answer : 4. "complete"
Explanation :
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.

Basic GK Economics GK

The Most Comprehensive Exam Preparation Platform

Get the Examsbook Prep App Today