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:

DSM-5

The Diagnostic and Statistical Manual of Mental Disorders, Fifth Edition, a handbook used by healthcare professionals as a guide to diagnosing mental disorders.

ICD-10

The International Classification of Diseases, Tenth Revision, a medical classification list by the World Health Organization, used for coding diseases, signs, symptoms, and procedures.

Self-report Data

Information provided directly by individuals about themselves, often used in research or assessment contexts.

Inherent Bias

Unconscious attitudes or stereotypes that affect the understanding, actions, and decisions of an individual.