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Answer to Question #219156 in Economics for Sizwe
Question #219156
A perfectly inelastic demand curve is
A. A downward sloping straight line with a slope equal to 1.
B. A curved line along which the product of price and quantity is constant.
C. Vertical.
D. Horizontal
A. A downward sloping straight line with a slope equal to 1.
B. A curved line along which the product of price and quantity is constant.
C. Vertical.
D. Horizontal
Expert's answer
A perfectly inelastic demand curve is vertical, because the quantity demanded is the same at any price.
So, the correct answer is C.
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