When the price of insulin is $10, consumers demand 100 units; when the price is $15, consumers demand 100 units; and when the price is $20, consumers demand 100 units. Based on this information, the demand for insulin is:
A)unit elastic
B)perfectly elastic
C)perfectly inelastic
D)elastic

Question

Quizplus · Accepted Answer

If the quantity demanded does not change when price changes, then demand is perfectly inelastic.

When the Price of Insulin Is $10, Consumers Demand 100