If a good is perfectly inelastic in a given price range, it will be perfectly inelastic at all prices.

Name: If a good is perfectly inelastic in a given price range, it will be perfectly inelastic at all prices.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The elasticity of demand for a good can vary at different price levels. A good that is perfectly inelastic in one price range may not necessarily be perfectly inelastic at all prices, as consumer responsiveness to price changes can differ across different price ranges.

If a Good Is Perfectly Inelastic in a Given Price