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

Short Answer

Expert verified

A vertical line in the demand and supply framework represents zero elasticity when a percentage change in price, no matter how high, results in zero change in quantity.

Step by step solution

01

Definition

Types of Elasticity:

The percentage change in the quantity requested or quantity provided as a result of a percentage change in price is known as the price elasticity of demand and supply. The response of a customer or a producer to a change in a good's price is evaluated by the price elasticity of demand and supply.

02

Explanation

Elasticity is zero. Regardless of the price, the vertical supply and demand curves show that there would be no percentage change in quantity (a) required or (b) supplied.

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