A. unitarily elastic
B. perfectly elastic
C. perfectly inelastic
D. fairly inelastic
Correct Answer:
Option C – perfectly inelastic
Explanation
Price elasticity of demand is the degree to which a change in price would affect the quantity demanded or supplied of a product. From the diagram above, price elasticity of demand is perfectly inelastic (that is, the quantity demanded does not respond to price.) When price was zero, the quantity demanded remained unchanged/ the same.
Download Business Administration Project Topic PDF - Effects of Job Stress on Employee’s Performance in Evans Nigeria
Original price was: ₦600.00.₦300.00Current price is: ₦300.00.
Download Accountancy Project Topic PDF - Effect Of Cost Control On The Profit Of An Organization (A Case Study Viju Milk Industries Nigeria Limited)
Original price was: ₦600.00.₦400.00Current price is: ₦400.00.
Download Animal Production Journal Article PDF - Performance of Some Forage Rass Species in the Southern Guinea Savannah Agro-Ecological Zone in Nasarawa State of Nigeria
Original price was: ₦600.00.₦300.00Current price is: ₦300.00.
Download Conference Paper Article PDF - Video Summarization Based Handout Generation from Video Lectures: A Gesture Recognition Framework
Original price was: ₦600.00.₦300.00Current price is: ₦300.00.
Download Conference on Advanced Computer Theory Article PDF - Real-Time Mono Vision Gesture-Based Virtual Keyboard System
Original price was: ₦600.00.₦300.00Current price is: ₦300.00.
Copyright warnings! Do not copy.
