Lesson - 2.8.1
The Values of PES Vary From 0 To Infinity (∞) & They Are Classified As Follows
Perfectly Inelastic
Value - 0
The QS is completely unresponsive to a change in P (e.g. fixed number of seats in a theatre)
Relatively Inelastic
Value : 0→1
The %∆ in QS is less than proportional to the %∆ in P (e.g agricultural products)
Relatively Elastic
Value - 1→ ∞
The %∆ in QS is more than proportional to the %∆ in P (e.g t-shirts)
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![HOW TO ANALAYSE A PERSON, TO IF HE IS GOOD OR BAD. [MY EXPIRENCE]](https://static.wixstatic.com/media/338b83_3327cd5272eb4e17a1de3b1cab48e7a3~mv2.png/v1/fill/w_312,h_176,fp_0.50_0.50,q_95,enc_avif,quality_auto/338b83_3327cd5272eb4e17a1de3b1cab48e7a3~mv2.png)
