Question : Perfectly inelastic demand occurs when the price elasticity of demand is:
Option 1: 0
Option 2: 1
Option 3: Greater than 1
Option 4: Undefined

Question

Question : Perfectly inelastic demand occurs when the price elasticity of demand is:

Option 1: 0

Option 2: 1

Option 3: Greater than 1

Option 4: Undefined

Team Careers360 · Accepted Answer

Correct Answer: 0

Solution : The correct answer is (a) 0

Perfectly inelastic demand occurs when the price elasticity of demand is zero. This means that the quantity demanded does not change at all in response to a change in price. Regardless of how much the price changes, the quantity demanded remains constant.

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Question : Perfectly inelastic demand occurs when the price elasticity of demand is:Option 1: 0Option 2: 1Option 3: Greater than 1Option 4: Undefined

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Question : Perfectly inelastic demand occurs when the price elasticity of demand is:
Option 1: 0
Option 2: 1
Option 3: Greater than 1
Option 4: Undefined