What happens in the case of perfectly inelastic demand
A)Quantity demanded stays the same regardless of price changes.
B)Huge changes in quantity demanded result from very small changes in the price.
C)The change in quantity demanded exactly equals the change in price.
D)The change in quantity demanded will be twice the change in price.

Question

Quizplus · Accepted Answer

In the case of perfectly inelastic demand, the quantity demanded stays the same regardless of price changes. This means that consumers are willing to pay any price for the product or service because they perceive it as a necessity or because there are no close substitutes available. As a result, changes in price do not have an effect on the quantity demanded.

What Happens in the Case of Perfectly Inelastic Demand