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Question
If there is no change in quantity demanded to any charge in price, then demand is ______ and demand curve is a ______.
Options
Perfectly elastic, horizontal straight line
Perfectly elastic, vertical straight line
Perfectly inelastic, horizontal straight line
Perfectly inelastic, vertical straight line
MCQ
Fill in the Blanks
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Solution
If there is no change in quantity demanded to any charge in price, then demand is perfectly inelastic and demand curve is a vertical straight line.
Explanation:
If quantity demanded is unchanged at every price, demand is perfectly inelastic. Its demand curve is vertical, parallel to the price axis.
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