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When elasticity is zero, demand curve is

Economics
JAMB 2015
When elasticity is zero, demand curve is
  • A. perfectly elastic
  • B. perfectly inelastic
  • C. down-ward sloping
  • D. upward sloping
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Correct Answer: Option B
Explanation
perfectly inelastic is when a change in price has an no effect on quantity demanded. The coefficient is zero
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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