Answered

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Which of the following describes perfectly elastic demand?
O
a.) Not buying a good at all anymore when the price goes up a little
O
b.) Buying the same amount of a good regardless of price fluctuations
c.) Buying less of another item in order to purchase a necessary good
d.) Continuing to buy a good even when its price goes up

Sagot :

GinnyAnswer

Final answer:

Perfectly elastic demand is when any price increase results in demand dropping to zero.


Explanation:

Perfectly elastic demand occurs when any increase in price leads to demand dropping to zero. An example of this is when consumers stop purchasing a good entirely even with a slight price increase. The elasticity of demand in this case is infinite.


Learn more about Elasticity of Demand here:

https://brainly.com/question/37206723


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