Asked by
Courtney Burns
on Nov 25, 2024
Verified
A perfectly inelastic demand schedule
A) rises upward and to the right but has a constant slope.
B) can be represented by a line parallel to the vertical axis.
C) cannot be shown on a two-dimensional graph.
D) can be represented by a line parallel to the horizontal axis.
Perfectly Inelastic
A situation where the quantity demanded or supplied does not change in response to a price change.
- Identify the differences between elastic, inelastic, unitary, perfectly inelastic, and perfectly elastic supply and demand.
Verified Answer
AW
Learning Objectives
- Identify the differences between elastic, inelastic, unitary, perfectly inelastic, and perfectly elastic supply and demand.