A perfectly inelastic demand curve for insulin would mean that the quantity demanded does
not respond at all to changes in the price of insulin.

Name: A perfectly inelastic demand curve for insulin would mean that the quantity demanded does not respond at all to changes in the price of insulin.
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Question

Quizplus · Accepted Answer

This is because in a perfectly inelastic demand curve, the quantity demanded remains constant regardless of changes in the price. Therefore, the price has no effect on the demand for insulin.

A Perfectly Inelastic Demand Curve for Insulin Would Mean That