Perfectly inelastic demand is very unusual, if not impossible, for large price
changes, but may exist for modest price changes of some goods;
such as prescription medication, addictive substances, and inexpensive
personal care products. A large enough price increase will affect the quantity
demanded for any good because simple affordability will be affected. Therefore, perfect
inelasticity will disappear if the price changes significantly.
Copyright © 1995-2004 OnLineTexts.com, Inc. - All Rights Reserved