Multiple Choice
A perfectly elastic demand implies that
A) buyers will not respond to any change in price.
B) any rise in price above that represented by the demand curve will result in a quantity demanded of zero.
C) quantity demanded and price change by the same percent as we move along the demand curve.
D) price will rise by an infinite amount when there is a change in quantity demanded.
Correct Answer:
Verified
Correct Answer:
Verified
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