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When the price of erasers increases from $1.50 to $2.50, the quantity demanded of pencils is unchanged. The cross-price elasticity of demand between erasers and pencils is ________ because erasers and
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When the price of erasers increases from $1.50 to $2.50, the quantity demanded of pencils is unchanged. The cross-price elasticity of demand between erasers and pencils is ________ because erasers and pencils

User Dave Delay
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7 votes

Answer:

Perfectly Inelastic

Step-by-step explanation:

Demand can be defined as the total quantity of a commodity which a consumer is willing and able to buy at a particular time and price.

There are several types of elasticity of demand a perfectly elastic demand is one that quantity remains the same regardless of a change in price

User Apardes
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