If the demand curve for a product is vertical, then
A) the demand for the product is elastic.
B) the demand for the product is perfectly elastic.
C) only a certain amount of the product will be consumed regardless of price.
D) the price elasticity of the product approaches zero.

Question

Quizplus · Accepted Answer

The price elasticity of demand measures the responsiveness of quantity demanded to changes in price. A vertical demand curve indicates that quantity demanded does not change in response to changes in price, so the price elasticity of demand is zero.

If the Demand Curve for a Product Is Vertical, Then