A Perfectly Inelastic Demand Means

question 23

Multiple Choice

A perfectly inelastic demand means:

• A) consumers will change the quantity they purchase when price changes.
• B) demand will drop to zero if the price increases by any amount.
• C) consumers will not change the quantity they purchase when price changes.
• D) the demand curve is perfectly horizontal.

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Definitions:

Natural Selection

A fundamental mechanism of evolution, whereby individuals with traits better suited to their environment are more likely to survive and reproduce, passing those traits to future generations.

Evolutionary Process

The gradual development of organisms and species over time through mechanisms such as natural selection and genetic drift.

Cultural Evolution

The process by which societies and cultures change over time, including changes in beliefs, practices, technologies, and social structures.

Natural Selection

A process by which organisms better adapted to their environment tend to survive and produce more offspring.