What type of price elasticity of demand is the diagram ab...
What type of price elasticity of demand is the diagram above representing?
Perfectly inelastic demand
Perfectly elastic demand
Fairly elastic demand
Composite demand
Correct answer is A
The diagram above shows that it is a perfectly inelastic demand. It is also known as Zero demand and it is an abnormal demand curve. The curve is vertical to the "Y-axis".
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