Question : The price elasticity of demand is perfectly elastic when it is:

Option 1: -1

Option 2: 0

Option 3: 1

Option 4: Infinity.

Question : When the price elasticity of demand is less than 1, the demand is:

Option 1: Inelastic

Option 2: Unitary elastic

Option 3: Perfectly elastic

Option 4: Elastic

Question : When the price elasticity of demand is greater than 1, the demand is:

Option 1: Inelastic

Option 2: Unitary elastic

Option 3: Perfectly elastic

Option 4: Elastic

Question : If a commodity's demand remains constant despite a price increase, then its demand is:

Option 1: Highly Elastic

Option 2: Perfectly Elastic

Option 3: Perfectly Inelastic

Option 4: Less Elastic

Question : If the price elasticity of demand for a good is zero, it means the demand is:

Option 1: Elastic

Option 2: Inelastic.

Option 3: Unit elastic.

Option 4: Perfectly elastic.