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

468

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

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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

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