5 Views

Question : Perfectly inelastic demand is equal to:

Option 1: one

Option 2: infinite

Option 3: zero

Option 4: greater than one


Team Careers360 19th Jan, 2024
Answer (1)
Team Careers360 22nd Jan, 2024

Correct Answer: zero


Solution : The correct answer is zero.

Perfectly inelastic demand equals zero. It suggests that when the price of an item changes, the amount required does not vary at all. Perfectly inelastic demand is uncommon, although it might exist for commodities that are vital for survival, such as life-saving medicines. People are ready to pay any price to receive these items, regardless of how much the price is. A perfectly inelastic demand curve is vertical. This suggests that the quantity requested remains constant irrespective of the pricing.

How to crack SSC CHSL

Candidates can download this e-book to give a boost to thier preparation.

Download Now

Know More About

Related Questions

TOEFL ® Registrations 2024
Apply
Accepted by more than 11,000 universities in over 150 countries worldwide
Manipal Online M.Com Admissions
Apply
Apply for Online M.Com from Manipal University
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books