A Perfectly Inelastic Demand Curve Will Be

question 176

Multiple Choice

A perfectly inelastic demand curve will be:

• A)vertical
• B)horizontal
• C)downward sloping to the right
• D)have an infinite elasticity

---

Definitions:

Retailer

A business or person that sells goods directly to consumers, acting as the final link in the distribution chain from manufacturers to end users.

Robinson-Patman Act

A federal law in the United States that bans practices by producers that hinder competition, particularly discriminating in pricing.

Functional Discount

A price reduction offered to channel members who perform certain functions such as selling, storing, and record-keeping.

Wholesaler

A business or person that buys goods in large quantities from manufacturers and sells them in smaller amounts to retailers, typically at lower prices.