The slope of the perfectly inelastic demand curve is ________, the slope of the perfectly elastic demand curve is ________.
A) undefined, zero
B) one, one
C) zero, undefined
D) one, zero

Question

Quizplus · Accepted Answer

A perfectly inelastic demand curve means that no matter what the price is, the quantity demanded remains constant. Therefore, the slope of the curve is vertical or infinite, which means it is undefined.

On the other hand, a perfectly elastic demand curve is horizontal, meaning that even a slight change in price results in a significant change in quantity demanded. Therefore, the slope of the curve is zero.

The Slope of the Perfectly Inelastic Demand Curve Is ________