An increase in quantity demanded caused no change in the equilibrium price. Thus, demand must be
A) perfectly inelastic.
B) inelastic.
C) elastic.
D) perfectly elastic.

Question

Quizplus · Accepted Answer

If an increase in quantity demanded causes no change in the equilibrium price, it indicates that demand is perfectly elastic. This means consumers are willing to buy any quantity at a certain price, but no quantity at a price even slightly higher.

An Increase in Quantity Demanded Caused No Change in the Equilibrium