If the demand for a good is perfectly inelastic, what will happen to the quantity demanded if there is a tiny increase in price?
A)quantity demanded will increase proportionately
B)quantity demanded will fall to zero
C)quantity demanded will decrease proportionately
D)quantity demanded will remain the same

Question

If the demand for a good is perfectly inelastic, what will happen to the quantity demanded if there is a tiny increase in price?
A)​quantity demanded will increase proportionately
B)​quantity demanded will fall to zero
C)​quantity demanded will decrease proportionately
D)​quantity demanded will remain the same

Quizplus · Accepted Answer

If the demand for a good is perfectly inelastic, it means that consumers are not responsive at all to changes in price. Therefore, even if there is a tiny increase in price, the quantity demanded will remain the same because consumers will continue to purchase the same amount of the good regardless of the price increase.

If the Demand for a Good Is Perfectly Inelastic, What