Figure 7-4

-Refer to Figure 7-4.A perfectly inelastic demand curve is shown in
A) Panel A.
B) Panel B.
C) Panel C.
D) Panel D.

Name: Figure 7-4 -Refer to Figure 7-4.A perfectly inelastic demand curve is shown in A) Panel A. B) Panel B. C) Panel C. D) Panel D.
Brand: Quizplus
Rating: 4.9 (42 reviews)

Question

Figure 7-4
 
-Refer to Figure 7-4.A perfectly inelastic demand curve is shown in
A) Panel A. 
B) Panel B. 
C) Panel C. 
D) Panel D.

Quizplus · Accepted Answer

Panel A shows a perfectly inelastic demand curve, which means that no matter what the price is, the quantity demanded remains the same. This is represented by a vertical demand curve, as shown in Panel A.

Figure 7-4 -Refer to Figure 7-4.A Perfectly Inelastic Demand Curve Is Shown