Asked by Carmen LeMaster on Jun 11, 2024

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If quantity demanded is completely unresponsive to price changes, demand is

A) perfectly inelastic.
B) perfectly elastic.
C) relatively inelastic.
D) relatively elastic.

Perfectly Inelastic

A situation in demand or supply in which the quantity demanded or supplied does not change regardless of changes in price.

Quantity Demanded

The specific amount of a good or service consumers are willing to purchase at a given price.

Price Changes

Variations in the cost of goods and services over time in the market.

  • Clarify the differences among elastic, unit-elastic, and inelastic demand types.
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HJ
Hobo jo Hobo tomJun 15, 2024
Final Answer :
A
Explanation :
Perfectly inelastic demand means that the quantity demanded does not change at all in response to price changes, which matches the description given.