Question : When the demanded quantity of a commodity does not respond to price changes, the demand for that commodity is?
Option 1: Elastic
Option 2: Inelastic
Option 3: Perfectly inelastic
Option 4: Unit elastic
Answer (1)
26th Jan, 2024
Correct Answer: Perfectly inelastic
Solution :
It is the case of perfectly inelastic as perfectly inelastic demand means that prices or quantities are fixed and are not affected by the other variable.
Hence option c is the correct answer.
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