Exhibit 5.6

-Refer to Exhibit 5.6,which shows a vertical demand curve.The demand is _____
A)unit elastic.
B)relatively elastic.
C)perfectly elastic.
D)relatively inelastic.
E)perfectly inelastic.

Question

Exhibit 5.6
 
-Refer to Exhibit 5.6,which shows a vertical demand curve.The demand is _____
A)unit elastic. 
B)relatively elastic. 
C)perfectly elastic. 
D)relatively inelastic. 
E)perfectly inelastic.

Quizplus · Accepted Answer

The demand is perfectly inelastic because regardless of price, the quantity demanded remains the same.

Exhibit 5.6 -Refer to Exhibit 5.6,which Shows a Vertical Demand Curve.The Demand