A Perfectly Horizontal Demand Curve Shows That the Price Elasticity

question 25

Multiple Choice

A perfectly horizontal demand curve shows that the price elasticity of demand is

• A)zero.
• B)unity.
• C)less than one.
• D)infinite.
• E)not defined.

---

Definitions:

Bias

In statistics and research, bias refers to a systematic error that leads to incorrect results by favoring certain outcomes over others unintentionally.

Normal

Pertaining to or describing a type of continuous probability distribution for a real-valued random variable that has a symmetrical, bell-shaped curve known as the normal distribution.

Bootstrap Distribution

A resampling method used in statistics to estimate the distribution of a statistic by repeatedly sampling with replacement from the original data.

Resampling Method

A statistical technique involving repeated sampling from a given dataset to assess the variability of a sample statistic.