If demand is perfectly elastic,then
A)the demand curve is a horizontal line
B)supply is perfectly inelastic
C)supply is perfectly elastic
D)the demand curve is a vertical line
E)the demand curve is downward sloping

Question

Quizplus · Accepted Answer

If demand is perfectly elastic, it means that any change in the price of the product will result in an infinite change in the quantity demanded. In other words, consumers are very sensitive to changes in price and will only buy the product if it is offered at a specific price that they are willing to pay. Therefore, the demand curve will be a horizontal line, as any increase or decrease in price will result in no change in the quantity demanded.

If Demand Is Perfectly Elastic,then