Solved

If a Small Increase in the Price of a Good

Question 168

Multiple Choice

If a small increase in the price of a good reduces quantity demanded to zero, demand is ________________ and the price elasticity of demand is equal to _______________.


A) perfectly inelastic; zero
B) perfectly elastic; infinity
C) unit elastic; one
D) perfectly elastic; zero

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions