Any change in price that causes a limitless response in the quantity demanded of a product indicates that demand is
A) inelastic.
B) elastic.
C) unit elastic.
D) perfectly inelastic.
E) perfectly elastic.

Question

Quizplus · Accepted Answer

A limitless response in the quantity demanded of a product when its price changes indicates that the demand is perfectly elastic. This means consumers are willing to buy any quantity at a certain price, but none at all if the price changes even slightly.

Any Change in Price That Causes a Limitless Response in the Quantity