Zero price elasticity of demand means
whatever the change in price, there is absolutely no change in demand
for a small change in price, there is a small change in demand
for a small change in price, there is a large change in demand
for a large change in price, there is a small change in demand
Answer is Right!
Answer is Wrong!
This question was previously asked in
UPSC CAPF – 2019
– PED = (% Change in Quantity Demanded) / (% Change in Price).
– If PED = 0, the numerator (% Change in Quantity Demanded) must be 0, implying no change in quantity demanded.