Question : When the demanded quantity of a commodity does not respond to price changes, the demand for that commodity is ____?
Option 1: Perfectly inelastic
Option 2: Inelastic
Option 3: Unit elastic
Option 4: Elastic
Answer (1)
25th Jan, 2024
Correct Answer: Perfectly inelastic
Solution :
Perfectly inelastic demand occurs when the demand for a quantity does not change as a result of a change in the price of a commodity. The elasticity of demand is zero in this case.
Hence option a is correct.
Comments (0)
