What is a pefectly inelastic demand schedule?

Question

What is a pefectly inelastic demand schedule?

Answer 1

Demand is perfectly inelastic if the quantity demanded of a good stays the same at any price.

Example: Demand for an antibiotic becomes highly inelastic when it alone can kill an infection resistant to all other antibiotics. Rather than die of an infection, patients will generally be willing to pay whatever is necessary to acquire enough of the antibiotic to kill the infection.

Demand is perfectly inelastic if consumers (here: patients) are willing to pay ANY PRICE for the good (here: antibiotic).

Answer 2

It is when the quantity demanded of a good stays the same at any price.