1) It'a good has a price olasticity of demand equal to B. __ A) the smallest 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 C) 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

The correct answer is:<br /><br />B) the quantity demanded of the good will be completely unaffected by a change in its price<br /><br />Explanation:<br /><br />Price elasticity of demand measures how sensitive the quantity demanded of a good is to a change 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.<br /><br />Therefore, the correct answer is B) the quantity demanded of the good will be completely unaffected by a change in its price.