Perfectly inelastic demand, like that of medication, means that consumers A. will buy the same quantity, regardless of price. B. will buy a huge, almost infinite amount more, if the price falls just a little. C. decrease their consumption as price rises. D. are willing to buy any quantity of the good at a given price, but none at higher prices. iE. ncrease their consumption as price rises.

Perfectly inelastic demand, like that of medication, means that consumers A. will buy the same quantity, regardless of price. B. will buy a huge, almost infinite amount more, if the price falls just a little. C. decrease their consumption as price rises. D. are willing to buy any quantity of the good at a given price, but none at higher prices. iE. ncrease their consumption as price rises.

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter7: Demand And Supply

Section: Chapter Questions

Problem 23AA

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Question

Perfectly inelastic demand, like that of medication, means that consumers

		A. will buy the same quantity, regardless of price.
		B. will buy a huge, almost infinite amount more, if the price falls just a little.
		C. decrease their consumption as price rises.
		D. are willing to buy any quantity of the good at a given price, but none at higher prices.
		iE. ncrease their consumption as price rises.

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