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True or False: Perfectly elastic demand is said to happen when a little change in price leads to an infinite change in quantity demanded?

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Question added by Hany Helmy Haleem , Director of Warehouses , Nasco Automotive
Date Posted: 2015/04/10
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Elke Woofter
by Elke Woofter , Project Assistant , American Technical Associates

I would say the statement is True.........

Vinod Jetley
by Vinod Jetley , Assistant General Manager , State Bank of India

A theoretical economic situation in which the interest of consumers in purchasing a business' product is extinguished if the price of the product rises or consumer interest rises to infinity if the price falls. In a perfectly elastic demand situation, the responsiveness of demand to a change in price or the price elasticity is infinite, thereby resulting in a flat demand curve.

 

Abdou warshan
by Abdou warshan , • مدير إدارة المخازن والنقل , شركة تمكين الدولية للأجهزة المنزلية

True                                         .

Wasi Rahman Sheikh
by Wasi Rahman Sheikh , WAREHOUSE SUPERVISOR , AL MUTLAQ FURNITURE MFG

Answer will be TRUE <<<<<<<<<<<<<<<

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