WAEC - Economics (2019 - No. 6)
If the coefficient of price elasticity of demand of a product is zero, then its demand curve will be
parallel to the quantity axis
parallel to the price axis
negatively sloped
positively sloped
Explanation
When the coefficient of price elasticity of demand is equal to zero, it means demand is perfectly inelastic. This means that demand for a good does not change in response to price.
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