Perfectly inelastic demand means that consumers: a. are willing to buy any quantity of the good at a given price, but none at a higher price b. decrease their consumption as price rises c. increase their consumption as price rises d will buy a certain quantity, regardless of price

Perfectly inelastic demand means that consumers: a. are willing to buy any quantity of the good at a given price, but none at a higher price b. decrease their consumption as price rises c. increase their consumption as price rises d will buy a certain quantity, regardless of price

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter5: Price Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 2SQ

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Question

Q30

Perfectly inelastic demand means that consumers:
a. are willing to buy any quantity of the good at a given price, but none at a
higher price
b. decrease their consumption as price rises
c. increase their consumption as price rises
d will buy a certain quantity, regardless of price

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