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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Describe the general appearance of a demand or a supply tune with zero elasticity.

To determine

Draw the demand and supply curve with zero elasticity.

Explanation

Zero elasticity of demand means when there is no change in quantity demand when price changes. In this case the demand curve is vertical, parallel to y-axis. The diagram is given below:

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