What type of price elasticity of demand is the diagram above representing?
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Correct Answer: Option A
Explanation:
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".
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".