1) It'a good has a price elasticity of demand equal too __ A) the smallast increase in its price will cause consumers to stop consuming a completely B) the quantity demanded of the good will be completely unaffected by a change in its price the demand curve for the good will be upward-sloping D) the percentage change in the quantity demanded of the good will be greater than the percentage change in its price

Question

1) It'a good has a price elasticity of demand equal too __ A) the smallast increase in its price will cause consumers to stop consuming a completely B) the quantity demanded of the good will be completely unaffected by a change in its price the demand curve for the good will be upward-sloping D) the percentage change in the quantity demanded of the good will be greater than the percentage change in its price

Answer 1

The correct answer is:B) the quantity demanded of the good will be completely unaffected by a change in its priceExplanation:Price elasticity of demand measures how sensitive the quantity demanded of a good is to changes in its price. When the price elasticity of demand is equal to 0, it means that the quantity demanded is completely inelastic. This means that even a large change in price will not affect the quantity demanded. Therefore, the correct answer is that the quantity demanded of the good will be completely unaffected by a change in its price.

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