If the price of a good increases by 10% and the quantity demanded remains unchanged, then at that price, the good is Perfectly inelastic Demand and in this case, the demand curve will be vertical.
quantity demanded is a term used in economics to describe the entire amount of an awesome or service that clients demand over a given c program language period of time. It depends on the fee of an excellent or service in a market, no matter whether that market is in equilibrium.
In its widespread shape, a linear demand equation is Q = a - bP. this is, the amount demanded is a characteristic of charge. The inverse demand equation, or fee equation, treats fee as a characteristic f of the amount demanded: P = f(Q). To compute the inverse demand equation, virtually remedy for P from the demand equation.
Perfectly Inelastic call for an approach that there may be no change in the amount of the product demanded whilst the charge modifications. because of this, the dealer can rate something rate they need and people will nonetheless be willing to shop for that product.
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