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Aryan · 2024-02-22T03:00:39.191Z

• Is there is a negative PED result then it is stated as inelasticity. If the ped is less than l • If the PED is greater than 1 then it is to be states as Price elasticity • As the price of the good or service increases , the quantity demanded will decrease by a small proportion • This over here is a price inelastic curve. • As the price of the object drops from p2 to p1 the quantity increases from q1 to q2 • This is a elastic curve ' Perfect PED Prices • If the PED price is 0 then it is perfectly priced inelastic , there would not be any change in the quantity demanded when the price is changed • If the PED price is infinity ( ∞ ) then the PED price is perfectly elastic , a change in price can lead to 0 quantity demanded thus no customer will buy the product. • If the PED price is 1 then the price is Unitary price elasticity , The percentage change in price is same to quantity demanded

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Aryan

Feb 22

Price elasticity and inelasticity

in Aryan

Is there is a negative PED result then it is stated as inelasticity. If the ped is less than l
If the PED is greater than 1 then it is to be states as Price elasticity

As the price of the good or service increases , the quantity demanded will decrease by a small proportion
This over here is a price inelastic curve.

As the price of the object drops from p2 to p1 the quantity increases from q1 to q2
This is a elastic curve

'

Perfect PED Prices

If the PED price is 0 then it is perfectly priced inelastic , there would not be any change in the quantity demanded when the price is changed
If the PED price is infinity ( ∞ ) then the PED price is perfectly elastic , a change in price can lead to 0 quantity demanded thus no customer will buy the product.
If the PED price is 1 then the price is Unitary price elasticity , The percentage change in price is same to quantity demanded

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