If an increase in the price of good A does not change its quantity demanded, then the price elasticity of demand for good A is said to be:
a. perfectly elastic

b. perfectly inelastic.
c. elastic.
d. inelastic.


b

Economics

You might also like to view...

The U.S. economy has become a less open economy over the past 50 years.

Answer the following statement true (T) or false (F)

Economics

List and explain factors that influence consumption expenditure

What will be an ideal response?

Economics

When the budget line for two goods is just tangent to the highest achievable indifference curve, then _____

a. the consumer is in equilibrium b. the consumer should purchase more of the good represented on the horizontal axis c. the consumer should purchase more of the good represented on the vertical axis d. the consumer cannot afford the combination represented by the tangency point e. the consumer should purchase less of both goods

Economics

Failure of market outcomes can occur even when the market is functioning properly.

Answer the following statement true (T) or false (F)

Economics