Complete the correlation
1) Perfectly elastic demand : Ed = ∞ :: …………..: Ed = 0
Ans:- perfectly inelastic
2) Rectangular hyperbola : ………….. :: Steeper demand curve : Relatively inelastic demand.
Ans:- Unitary elastic
3) Straight line demand curve : Linear demand curve :: ………… : non-linear demand curve.
Ans:- demand curve is convex to the origin
4) Pen and ink : ……….. :: Tea and Coffee : Substitutes
Ans:- Complementary
5) Ratio method : Ed = %△Q/%△P :: ……………………. : Ed = Lower segment/ Upper segment
Ans:- Percentage change in quantity demanded/Percentage change in price