When the price of insulin was $10,consumers demanded 100 units;when the price was $15,consumers demanded 100 units;and when the price was $20,consumers demanded 100 units.Based on this information,insulin must have a(n)_______ demand curve.
A)unitary elastic
B)perfectly elastic
C)perfectly inelastic
D)elastic

Question

Quizplus · Accepted Answer

If quantity does not change at all when price changes,demand is perfectly inelastic.

When the Price of Insulin Was $10,consumers Demanded 100 Units;when