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If the coefficient of price elasticity of demand of a product is zero, then its...

Economics
WAEC 2019

If the coefficient of price elasticity of demand of a product is zero, then its demand curve will be

  • A. parallel to the quantity axis
  • B. parallel to the price axis
  • C. negatively sloped
  • D. positively sloped
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Correct Answer: Option B
Explanation

When the coefficient of price elasticity of demand is equal to zero, it means demand is perfectly inelastic. This means that demand for a good does not change in response to price.

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