Perfectly inelastic demand occurs when:
A) consumers are extremely sensitive to a change in price.
B) consumers are quick to alter their demand when the price changes.
C) the quantity demanded is unchanged when the price changes by any amount.
D) only large changes in price affect the quantity demanded.

Question

Quizplus · Accepted Answer

Perfectly inelastic demand occurs when the quantity demanded remains unchanged regardless of any change in the price. In other words, consumers are not responsive to price changes and will continue to purchase the same quantity regardless of the price.

Perfectly Inelastic Demand Occurs When