The type of price elasticity of demand for a commodity whose quantity demanded remain unchanged...
ECONOMICS
JAMB 2023
The type of price elasticity of demand for a commodity whose quantity demanded remain unchanged despite changes in the price is
- A. Perfectly elastic
- B. Infinitely elastic
- C. Inelastic
- D. Perfectly inelastic
Correct Answer: D. Perfectly inelastic
Explanation
Perfectly inelastic demand is also known as Zero elasticity demand. Zero elasticity of demand is one when whatever the change in price, there is absolutely no change in demand.
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