Figure 6-1

-Refer to Figure 6-1.A perfectly inelastic demand curve is shown in
A)Panel A.
B)Panel B.
C)Panel C.
D)Panel D.

Question

Figure 6-1
 
-Refer to Figure 6-1.A perfectly inelastic demand curve is shown in
A)Panel A. 
B)Panel B. 
C)Panel C. 
D)Panel D.

Quizplus · Accepted Answer

A perfectly inelastic demand curve is shown in Panel A as the quantity demanded remains the same regardless of changes in the price, meaning the elasticity of demand is zero. Panels B, C, and D all show some degree of price responsiveness in the quantity demanded, indicating that they are not perfectly inelastic demand curves.

Figure 6-1 -Refer to Figure 6-1.A Perfectly Inelastic Demand Curve Is Shown