A Perfectly Inelastic Demand Curve Has a Price Elasticity

question 170

Multiple Choice

A perfectly inelastic demand curve has a price elasticity

• A)equal to zero.
• B)that varies.
• C)equal to 1.
• D)less than 1.
• E)of infinity.

---

Definitions:

Wealthy And Middle-Class

Descriptive terms for economic groups within society, with the wealthy having significant financial resources and the middle-class positioned economically between the wealthy and the poor.

Structural Factors

Elements or conditions inherent to the social, economic, or political structure that influence and determine individual behaviors and societal outcomes.

Socioeconomic Status

An individual's or group's position within a hierarchical social structure, often determined by a combination of income, education, and occupation.

Occupational Prestige

The collective societal respect, admiration, or regard given to certain professions or lines of work, often based on perceived skill level, education required, and social value.