Question

) The price elasticity of demand for alfalfa is perfectly elastic. Thus, the price elasticity demand for alfalfa is

Answer 1

The price elasticity of demand for alfalfa is perfectly elastic, which means that even a small change in price will lead to an infinite change in the quantity demanded.

Step-by-step explanation:

The price elasticity of demand for alfalfa is said to be perfectly elastic. This means that the quantity demanded for alfalfa is extremely responsive to changes in price. In other words, even a small change in price will lead to an infinite change in the quantity demanded.

Answer 2

Infinity

Step-by-step explanation:

In economics, we say that demand is perfectly elastic when the Price elasticity of demand coefficient is equal to infinity. This is because in the scenario that demand is perfectly elastic, it means that the buyers will only buy at just one price.

Thus, the price elasticity demand for alfalfa will be infinity.