The list below refers to the price elasticity of demand.
1)perfectly inelastic
2)perfectly elastic
3)unitary elasticity
4)elastic
5)inelastic
-Refer to the information above to answer this question.What is a demand curve that is parallel to the horizontal axis?
A)1.
B)2.
C)3.
D)4.
E)5.

Question

Quizplus · Accepted Answer

A demand curve that is parallel to the horizontal axis represents perfectly elastic demand, meaning consumers are highly sensitive to price changes, and even a tiny price change would lead to an infinite change in the quantity demanded.

The List Below Refers to the Price Elasticity of Demand