Y- axis Ep- oo Price X-axis Quantity demanded The demand is said to be perfectly elastic if the quantity demanded increases infinitely (or by unlimited) With a small fall in price or quantity demand falls to zero with a small rise in Price. It does not have practical importance as it is rarely found in real life.
2 Y axis Ep 1 (Unitary elastic) Price P1 AD D D1 Demand x- axis The demand is said to be unitary elastic if the percentage change in quantity demanded is equal to the percentage change in price. This type of demanded is rarely applicable in our practical life.
Author, Motivator And Best Faculty Of GS at Mukherjee Nagar in Delhi,With Teaching Experience Of 12 Years