A perfectly inelastic demand implies that buyers:
A) decrease their purchases when the price rises
B) respond substantially to an increase in price
C) increase their purchases only slightly when the price falls
D) purchase the same amount when the price rises or falls

Question

Quizplus · Accepted Answer

A perfectly inelastic demand means that the quantity demanded remains constant regardless of changes in price. Therefore, buyers will purchase the same amount even when the price rises or falls.

A Perfectly Inelastic Demand Implies That Buyers