Economics
JAMB 2022
What type of price elasticity of demand is the diagram above representing?
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A.
perfectly inelastic demand
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B.
perfectly elastic demand
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C.
fairly elastic demand
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D.
composite demand
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".
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