JAMB Economics 2020 Objective — Question 10

Question 10 of 50 from the Joint Admissions and Matriculation Board (JAMB) Economics 2020 Objective paper, with the correct answer and a full explanation.

As shown in the diagram below, the price elasticity of demand is

A. unitarily elastic
B. perfectly elastic
C. perfectly inelasticCorrect
D. fairly inelastic

Explanation

A vertical demand curve (quantity unchanged regardless of price) shows perfectly inelastic demand.

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