The other extreme is a vertical demand curve that indicates an item is perfectly inelastic. These items are necessary and have no substitutes; for example, a life-saving drug that people will pay ...

The demand curve for a perfectly inelastic good is depicted as a vertical line in graphical presentations because the quantity demanded is the same at any price.

Shift Along Demand Curve & Consumer Expectations. Economists often use demand curves to... What Is an Elastic or Inelastic Demand Curve?. The demand curve is a concept in economics ...

Relatively elastic demand means you can expect more change in demand than in the price of a product or service. Perfectly inelastic demand means that demand remains constant regardless of price.

A score between 0 and 1 is considered inelastic, since variation in price has only a small impact on demand. A product with an elasticity of 0 would be considered perfectly inelastic, because ...