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If the demand for a good is perfectly inelastic, then

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If the demand for a good is perfectly inelastic, then

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the percentage change in quantity demanded is greater than the percentage change in price.

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the percentage change in quantity demanded is less than the percentage change in price.

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the percentage change in quantity demanded is equal to the percentage change in price.

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quantity demanded is extremely responsive to changes in price.

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quantity demanded is not responsive to changes in price.

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Economics

Edition: 12^th

Author: Arnold

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