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17 March, 13:50

Which of the following statements describes a perfectly inelastic demand ? A. The government is promoting generic drugs that are much cheaper. B. I prefer taking the subway to work rather than driving because of high fuel prices. C. A large number of youngsters buy roses from Colombian rose-growers before Valentine's Day. D. Walgreens does not find any change in the number of people buying chlorthalidone after a 7 percent rise in its price.

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  1. 17 March, 14:02
    0
    B. I prefer taking the subway to work rather than driving because of high fuel prices.

    Explanation:

    I prefer taking the subway to work rather than driving because of high fuel prices describes a perfectly inelastic demand .
  2. 17 March, 14:05
    0
    D

    Explanation:

    The word inelastic demand could be when a change in price causes a smaller percentage change in demand. It occurs where there is a price elasticity of demand (PED) of less than one.

    Goods which are price inelastic tend to have few substitutes and are considered necessities by users.

    In this case the chlorthalidone demand would not change in respect to increase in price.
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Home » Business » Which of the following statements describes a perfectly inelastic demand ? A. The government is promoting generic drugs that are much cheaper. B. I prefer taking the subway to work rather than driving because of high fuel prices. C.
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