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 when a firm can sell either more or less of a product at a constant price?
A)1.
B)2.
C)3.
D)4.
E)5.

Question

Quizplus · Accepted Answer

Perfectly elastic demand means that consumers are willing to buy any quantity of the product at a certain price, but any increase in price will cause the demand to drop to zero. This scenario describes a situation where a firm can sell more or less of a product at a constant price, indicating perfectly elastic demand.

The List Below Refers to the Price Elasticity of Demand