Chapter 5: Q.14 (page 130)
Describe the general appearance of a demand or a supply curve with infinite elasticity.
Short Answer
Expert verified
A demand or supply curve with infinite elasticity is horizontal in shape.
Step by step solution
01
Step 1. Introduction:
Infinite elasticity is an extremely elastic case of demand or supply where quantity varies by an infinite amount due to any variation in price.
02
Step 2. Explanation:
As the quantity demanded or supplied keeps on increasing irrespective of how small the intensity of a price change is, the demand or supply curve with infinite elasticity is horizontal in shape. The demand and supply curves with infinite elasticity are illustrated in the figure below:
Over 30 million students worldwide already upgrade their learning with Vaia!
