Q. What is perfectly inelastic demand?
Answer: Demand doesn’t change with price
Notes: Price elasticity = 0,  Perfectly inelastic-  Demand does not change as price changes
Price elasticity < 1, less than unit elastic-  % change in demand is less than that in price
Price elasticity = 1, Unit elastic -  % change in demand is equal that in price
Price elasticity > 1, more than unit elastic - % change in demand is more than that in price
Price elasticity = ∞ ,  Perfectly elastic Demand changes infinitely

This question is part of 40000+ General Studies MCQ Series Course on GKToday Android app. Question Number: 55 in 1. Important Concepts in Micro & Macroeconomics in above course in App.