If Quantity Demanded Is Completely Unresponsive to Changes in Price,demand

question 194

Multiple Choice

If quantity demanded is completely unresponsive to changes in price,demand is

• A) inelastic.
• B) unit elastic.
• C) elastic.
• D) perfectly elastic.
• E) perfectly inelastic.

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Definitions:

Ending Inventory

The value of goods available for sale at the end of an accounting period which is not yet sold.

Inventory Turnover

A ratio showing how many times a company's inventory is sold and replaced over a specific period, indicating efficiency in inventory management.

Days' Sales

A metric that calculates the average time it takes for a company to convert its inventory into sales.

Average Daily Cost

This measures the average amount spent per day over a specified period, often used in budgeting and financial planning.