In which of these instances is demand said to be perfectly inelastic?
a. an increase in pric...
Business, 09.10.2019 00:00, tomasgarrido10
In which of these instances is demand said to be perfectly inelastic?
a. an increase in price of 2% causes a decrease in quantity demanded of 2%.
b. a decrease in price of 2% causes an increase in quantity demanded of 0%.
c. a decrease in price of 2% causes a decrease in total revenue of 0%.
d. an increase in price of 2% causes a decrease in quantity demanded of 1/2%.
Answers: 3
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