Jerome says that he will spend exactly $25 each month on new apps for his mobile device,regardless of the price of apps.Jerome's demand for apps is
A)perfectly elastic.
B)unit elastic.
C)perfectly inelastic.
D)somewhat inelastic,but not perfectly inelastic.

Question

Quizplus · Accepted Answer

Jerome's spending a fixed amount each month regardless of price indicates unit elasticity, as his total expenditure remains constant despite changes in price.

Jerome Says That He Will Spend Exactly $25 Each Month