A perfectly inelastic demand is one in which:
A) the demand curve is perfectly vertical.
B) the demand curve is perfectly horizontal.
C) the measured elasticity is exactly 1.
D) the response to a change in price is immediate.
Correct Answer:
Verified
Q43: Ice cream is _ than frozen treats
Q44: A perfectly inelastic demand:
A)means people will not
Q45: A perfectly inelastic demand:
A)means people will not
Q46: Dolls are _ than Barbie dolls because
Q47: The resulting change in the quantity of
Q49: Shoes are _ than sneakers because _.
A)less
Q50: The response in demand of a price
Q51: A pound of coffee is _ than
Q52: Classical music is _ than Beethoven's music
Q53: Steak is _ than food because _.
A)less
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents