A perfectly inelastic demand curve
A) Vertical with some steep B) Perfectly horizontal C) Horizontal with some steep D) Perfectly vertical
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For a demand curve to be vertical, meaning perfectly inelastic demand, the product in question must be a necessity for which no substitute goods exist, according to the economics education website AmosWeb. Consumers must purchase the product regardless of its price because they cannot switch to a similar product
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Answer:
Perfectly vertical
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