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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 curve with infinite elasticity.

To determine

Draw the demand and supply curve with infinite elasticity.

Explanation

Infinite elasticity of demand means when there is infinite change or very large change in quantity demanded due to a very small change in price level. In this case the demand curve is horizontal, parallel to x-axis. The diagram is given below:

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