Exhibit 19-7

-Refer to Exhibit 19-7. Which of the graphs shows a perfectly inelastic demand curve?
A)(1)
B)(2)
C)(3) and (4)
D)none of the above

Name: Exhibit 19-7 -Refer to Exhibit 19-7. Which of the graphs shows a perfectly inelastic demand curve? A)(1) B)(2) C)(3) and (4) D)none of the above
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Question

Exhibit 19-7
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-Refer to Exhibit 19-7. Which of the graphs shows a perfectly inelastic demand curve?
A)(1) 
B)(2) 
C)(3) and (4) 
D)none of the above

Quizplus · Accepted Answer

A perfectly inelastic demand curve is vertical, indicating that quantity demanded does not change regardless of price changes. Graph (1) is vertical, representing perfectly inelastic demand.

Exhibit 19-7 ​

Exhibit 19-7