Why Should We Never Assume That an Inelastic Demand Curve

question 10

Multiple Choice

Why should we never assume that an inelastic demand curve is a perfectly inelastic demand curve?

• A)because there has never been evidence of a perfectly inelastic demand curve.
• B)because an inelastic demand curve may be perfectly inelastic at some times but not others.
• C)because perfectly inelastic demand curves are rare.
• D)because an inelastic demand curve may be elastic at high prices.

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