infinite
less than unit
zero
inelastic demand
Answer is Right!
Answer is Wrong!
The correct answer is: A. infinite.
A demand curve which is parallel to the x-axis is a perfectly inelastic demand curve. This means that the quantity demanded of a good is not affected by changes in the price of the good. In other words, consumers are willing to buy the same quantity of the good regardless of
the price.A perfectly inelastic demand curve is represented by a vertical line. This is because the quantity demanded is the same at all prices.
The following are the four
types of demand elasticity:- Perfectly inelastic demand: The quantity demanded does not change at all in response to a change in price.
- Inelastic demand: The quantity demanded changes by a smaller percentage than the price changes.
- Unitary elastic demand: The quantity demanded changes by the same percentage as the price changes.
- Elastic demand: The quantity demanded changes by a larger percentage than the price changes.
I hope this helps! Let me know if you have any other questions.