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Slope of demand curve will be infinity when degree of price elasticity of demand is infintiy. Defend or Refute. |
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Answer» Solution :The statement is REFUTED. `P.e_(D) = P/Qxx(DeltaQ)/(DeltaP)` and slope of demand curve = `(DeltaP)/(DeltaQ)` `P.e_(D)= P/Qxx 1/("Slope of DD curve")` or Slope of demand curve = ` P/Qxx1/(P.e_(D)` when `P.e_(D)=OO` Then slope of demand curve = `P/Qxx 1/oo= ` Zero when `P.e_(D) is oo` , slope of demand curve will be zero. |
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