If the graphic representation for sports cars is a vertical demand curve, then the demand for sports cars is more likely a. unit
elastic. b. perfectly inelastic. c. inelastic. d. perfectly elastic. e. None of the above.
1 answer:
Answer:
b. perfectly inelastic.
Explanation:
A vertical demand curve means that quantity demanded would remain the same no matter the change in price. It means demand is perfectly inelastic.
Perfectly Inelastic demand means that quantity demanded doesn't respond to changes in price.
Demand is unit elastic if a small change in price has a greater effect on the quantity demanded.
Demand is perfectly elastic if quantity demanded falls to zero if there's a changes in price.
Demand is inelastic if a small change in price has little or no effect on quantity demanded.
I hope my answer helps you
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