Question

what is zero price elasticity? ​

Answer 1

Explanation:

If elasticity = 0, then it is said to be 'perfectly' inelastic, meaning its demand will remain unchanged at any price.

Answer 2

Zero price elasticity is also known as perfectly inelastic demand.

Explanation:

1. Zero price elasticity refers to an unchanging demand of a product even after a change in its price.
2. Goods with zero price elasticity are also known to have perfectly inelastic demand as the demand for these products does not change even when their prices change.
3. Essential goods such as sugar, salt, grains, etc are known to have zero price elasticity as these are consumed by people and the demand remains unchanged even when the prices change.