{"id":54018,"date":"2024-04-16T00:03:02","date_gmt":"2024-04-16T00:03:02","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=54018"},"modified":"2024-04-16T00:03:02","modified_gmt":"2024-04-16T00:03:02","slug":"which-of-the-following-does-not-have-a-uniform-elasticity-of-demand-at-all-points","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-does-not-have-a-uniform-elasticity-of-demand-at-all-points\/","title":{"rendered":"Which of the following does not have a uniform elasticity of demand at all points?"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;a downward sloping demand curve&#8221; option2=&#8221;a vertical demand curve&#8221; option3=&#8221;a rectangular hyperbola demand curve&#8221; option4=&#8221;a horizontal demand curve&#8221; correct=&#8221;option2&#8243;]<!--more--><\/p>\n<p>The correct answer is: <strong>B. a vertical demand curve<\/strong><\/p>\n<p>A vertical demand curve is a special case of a demand curve where the quantity demanded is perfectly inelastic. This means that the quantity demanded does not change at all in response to a change in price. As a result, the elasticity of demand is zero at all points on a vertical demand curve.<\/p>\n<p>A downward-sloping demand curve is a more common type of demand curve. On a downward-sloping demand curve, the quantity demanded decreases as the price increases. The elasticity of demand is not constant on a downward-sloping demand curve, but it is always negative. This means that the quantity demanded is always inversely related to the price.<\/p>\n<p>A rectangular hyperbola demand curve is a type of demand curve that is shaped like a rectangular hyperbola. On a rectangular hyperbola demand curve, the quantity demanded is inversely proportional to the price. This means that the elasticity of demand is equal to -1 at all points on a rectangular hyperbola demand curve.<\/p>\n<p>A horizontal demand curve is a type of demand curve where the quantity demanded is infinite at any price. This means that the elasticity of demand is infinite at all points on a horizontal demand curve.<\/p>\n<p>In conclusion, the only type of demand curve that does not have a uniform elasticity of demand at all points is a vertical demand curve.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;a downward sloping demand curve&#8221; option2=&#8221;a vertical demand curve&#8221; option3=&#8221;a rectangular hyperbola demand curve&#8221; option4=&#8221;a horizontal demand curve&#8221; correct=&#8221;option2&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-54018","post","type-post","status-publish","format-standard","hentry","category-economics","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Which of the following does not have a uniform elasticity of demand at all points?<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-does-not-have-a-uniform-elasticity-of-demand-at-all-points\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Which of the following does not have a uniform elasticity of demand at all points?\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;a downward sloping demand curve&#8221; 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