Perfectly Inelastic Demand Means That Consumers

question 104

Multiple Choice

Perfectly inelastic demand means that consumers

• A) are willing to buy any quantity of the good at a given price, but none at higher prices.
• B) decrease their consumption as price rises.
• C) increase their consumption as price rises.
• D) will buy a certain quantity, regardless of price.
• E) will buy a huge, almost infinite amount more, if the price falls just a little.

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Definitions:

Death

The cessation of all biological functions that sustain a living organism; often discussed in the context of philosophy, religion, and medicine.

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The average period that a person is expected to live, which varies across populations and is influenced by factors such as genetics, lifestyle, and the environment.

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