A perfectly inelastic demand implies that:
A)buyers will not respond to any change in price
B)any rise in price above that represented by the demand curve will result in no output demanded
C)price and quantity demanded respond proportionally
D)price will rise by an infinite amount when there is a change in quantity demanded

Question

Quizplus · Accepted Answer

A perfectly inelastic demand means that consumers' quantity demanded does not change regardless of the price change.

A Perfectly Inelastic Demand Implies That