1)If demand is perfectly inelastic, then the demand curve is: A

Subject:EconomicsPrice:2.88 Bought3

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1)If demand is perfectly inelastic, then the demand curve is:

A. vertical
B. horizontal
C. upward sloping
D. downward sloping
E. concave (bowed away from the origin)

2)By measuring the price elasticity of demand in terms of percentage changes, economists

A. can compare how consumers respond to changes in the prices of different products.

B. can compare how consumers respond to changes in the quantities supplied of different products.

C. can differentiate consumer tastes and preferences across different income levels.

D. can make value judgments about how consumers spend their incomes.

E. can compare how consumers respond only to changes in the price of the same product.