Demand is perfectly inelastic when
A) shifts in the supply curve results in no change in price.
B) the good in question has perfect substitutes.
C) shifts of the supply curve result in no change in quantity demanded.
D) shifts of the supply curve result in no change in the total revenue from the quantity sold.

Question

Quizplus · Accepted Answer

When demand is perfectly inelastic, the quantity demanded does not change regardless of changes in price, meaning shifts in the supply curve do not affect the quantity demanded.

Demand Is Perfectly Inelastic When