Answer:
Price (Rs.) Q (Units) Total Expenditure (Rs.) 8 14 112 7 14 98 P = 8, \[{{P}_{1}}\]= 7, = 14, \[{{Q}_{1}}\]= 14 \[\Delta P~=78=1,\,\,\,\,\Delta Q=1414=0\] \[{{E}_{d}}=\frac{\Delta Q}{\Delta P}\,\,\times \,\,\frac{P}{Q}=\frac{0}{-1}\,\,\times \,\,\frac{8}{14}=0\] Therefore, the shape of demand curve will be perfectly inelastic.
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