If demand for a good is perfectly inelastic, then
A) a price increase would cause a fall in quantity demanded.
B) a price increase would cause no change in quantity demanded.
C) a price increase would cause an increase in quantity demanded.
D) a price increase would cause a fall in total revenue.
Correct Answer:
Verified
Q143: "The slope of the demand curve gives
Q144: When total revenue and price are directly
Q145: If the market price of a product
Q146: If the absolute price elasticity of demand
Q147: Explain the three possible ranges for price
Q149: What does a perfectly elastic demand curve
Q150: If the price elasticity of demand for
Q151: If a seller lowers the price of
Q152: "Price elasticity measures how many more units
Q153: Suppose that the demand for coffee is
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