Asked by

Mujeeb Sarwar
on Oct 08, 2024

verifed

Verified

A perfectly inelastic demand schedule:

A) rises upward and to the right but has a constant slope.
B) can be represented by a line parallel to the vertical axis.
C) cannot be shown on a two-dimensional graph.
D) can be represented by a line parallel to the horizontal axis.

Perfectly Inelastic

Describes a situation in demand or supply where the quantity demanded or supplied does not change in response to a price change.

Demand Schedule

A table that shows the quantity of a good that consumers are willing to buy at different prices.

Parallel

Lines or paths that remain the same distance apart at every point, never meeting or intersecting.

  • Distinguish between perfectly inelastic and perfectly elastic demand.
verifed

Verified Answer

AN
Aliyah NasaireOct 09, 2024
Final Answer:
Get Full Answer