Asked by
Mazen Alowdi
on Oct 26, 2024Verified
A demand curve that is perfectly inelastic is:
A) horizontal.
B) vertical.
C) downward sloping.
D) upward sloping.
Perfectly Inelastic
Describing a situation where the quantity demanded or supplied of a good does not change in response to a price change.
Demand Curve
A graphical representation of the quantity of a good that consumers are willing and able to purchase at various prices during a given period.
- Comprehend the consequences of perfectly inelastic and perfectly elastic demand curves.
Verified Answer
LT
Learning Objectives
- Comprehend the consequences of perfectly inelastic and perfectly elastic demand curves.