When the Demand Curve Is a Vertical Line, Demand Is

question 126

Multiple Choice

When the demand curve is a vertical line, demand is

• A)relatively elastic.
• B)perfectly inelastic.
• C)unit elastic.
• D)infinitely elastic.
• E)cross-elastic.

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Definitions:

Contingency Theory

A management theory that suggests the most appropriate form of managerial action depends on the specifics of the situation at hand.

Leadership Style

Refers to the manner and approach used by a leader to guide, direct, and influence the behavior and work of others.

Hersey-Blanchard

A situational leadership model developed by Paul Hersey and Kenneth Blanchard that suggests the need to adapt leadership style based on the maturity level of followers.

Situational Leadership Model

A leadership theory that proposes the most effective leadership style varies according to the situation and the maturity level of the followers.