When demand is perfectly inelastic, the demand curve will be Group of answer choices negatively sloped, because buyers decrease their purchases when the price rises. vertical, because buyers purchase the same amount as before whenever the price rises or falls. positively sloped, because buyers increase their purchases when price rises. positively sloped, because buyers increase their total expenditures when price rises.

Question

Kadence

Business

25 May, 02:20

When demand is perfectly inelastic, the demand curve will be Group of answer choices negatively sloped, because buyers decrease their purchases when the price rises. vertical, because buyers purchase the same amount as before whenever the price rises or falls. positively sloped, because buyers increase their purchases when price rises. positively sloped, because buyers increase their total expenditures when price rises.

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Sam Johnston · Answer 1

The answer is B. vertical, because buyers purchase the same amount as before whenever the price rises or falls

Explanation:

When demand is perfectly inelastic, the demand is not sensitive to price. The consumers' quantity demanded stays costant or or remain the same with a fall or rise in demand.

The elasticity is always less than one. Necessity goods are in this category. They are needed almost everyday. For example, electricity, water are part of humans' daily needs.