What does a perfectly inelastic demand imply
A)Buyers decrease their purchases when the price rises.
B)Buyers purchase the same amount when the price rises or falls.
C)Buyers increase their purchases only slightly when the price falls.
D)Buyers respond substantially to an increase in price.

Question

Quizplus · Accepted Answer

A perfectly inelastic demand implies that the quantity demanded does not change regardless of price changes, meaning buyers purchase the same amount whether the price rises or falls.

What Does a Perfectly Inelastic Demand Imply