Final answer:
The absolute value of price elasticity representing perfectly inelastic demand is 0. This indicates no responsiveness of quantity demanded to changes in price.
Step-by-step explanation:
The question asked concerns price elasticity of demand within the field of economics, which falls under the Business category. Perfectly inelastic demand is when the quantity demanded does not change in response to a price change. In terms of elasticity, this would be represented by an elasticity of zero (0), because no matter how much the price varies, the quantity demanded remains unchanged.
To clarify further, there are generally three categories of price elasticity of demand, which are elastic, inelastic, and unitary. An elastic demand suggests that the quantity demanded is highly responsive to price changes and corresponds to an absolute elasticity greater than one. An inelastic demand reflects a low responsiveness to price changes and is indicated by an absolute elasticity less than one. Lastly, unitary elasticity means that the quantity demanded changes proportionally to the price change, represented by an elasticity exactly equal to one.
The options provided were a) -1.5, b) 0, c) 1, d) 2. Given this information, the correct option to represent perfectly inelastic demand, where the absolute value of elasticity is considered, is option b) 0.