If there is no change in the demand for the commodity X even after a rise in its price then its demand is
A. Perfectly elastic
B. Perfectly inelastic
C. Less elastic
D. Highly elastic.
Answer:B
If there is no change in the demand for the commodity X even after a rise in its price then its demand is
A. Perfectly elastic B. Perfectly inelastic C. Less elastic D. Highly elastic.