Figure 2.4.3
-Refer to Figure 2.4.3 above. Which of the following best describes de demand curve in this figure?
A) Demand is infinitely elastic.
B) Demand is completely inelastic.
C) Demand becomes more inelastic the lower the price.
D) Demand becomes more elastic the lower the price.

Question

Figure 2.4.3
-Refer to Figure 2.4.3 above. Which of the following best describes de demand curve in this figure?
A) Demand is infinitely elastic. 
B) Demand is completely inelastic. 
C) Demand becomes more inelastic the lower the price. 
D) Demand becomes more elastic the lower the price.

Quizplus · Accepted Answer

Demand is completely inelastic if the quantity demanded does not change regardless of the price level, which is what a vertical demand curve represents.

Figure 2.4.3 -Refer to Figure 2.4.3 Above. Which of the Following Best