If Quantity Demanded Is Completely Unresponsive to Price Changes, Demand

question 234

Multiple Choice

If quantity demanded is completely unresponsive to price changes, demand is

• A)perfectly inelastic.
• B)perfectly elastic.
• C)relatively inelastic.
• D)relatively elastic.

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Definitions:

Market Demands

The total quantity of a product or service that consumers are willing and able to purchase at various price levels at a given time.

Direct Authority

The explicit power granted to an individual within an organization to make decisions, give orders, and enforce obedience, often aligned with their position in the organizational hierarchy.