The price of a good will be demand determined if
A) the demand for the good is unit elastic.
B) the demand for the good is perfectly inelastic.
C) the supply of the good is perfectly elastic.
D) the supply of the good is perfectly inelastic.

Question

Quizplus · Accepted Answer

When the supply of a good is perfectly inelastic, the quantity supplied does not change regardless of the price, making the price entirely dependent on the demand.

The Price of a Good Will Be Demand Determined If