If Demand Is Perfectly Elastic,it Follows That

question 90

Multiple Choice

If demand is perfectly elastic,it follows that

• A) as price changes, quantity demanded does not change.
• B) as price changes, quantity demanded changes by a larger percentage.
• C) as price changes only a small percentage, quantity demanded falls to zero.
• D) as income changes only a small percentage, quantity demanded changes by a very large percentage.
• E) none of the above

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Sociological Economics

An interdisciplinary approach that analyzes economic behavior through the lens of social structures and cultural influences.

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An economic theory that focuses on how the perception of equilibrium in supply and demand is the key factor in determining price and production levels.

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