A Demand Curve That Is the Shape of a Rectangular

question 155

Multiple Choice

A demand curve that is the shape of a rectangular hyperbola

• A)is elastic over the whole curve.
• B)is inelastic over the whole curve.
• C)is unit elastic over the whole curve.
• D)has the same elasticity as a straight-line demand curve.
• E)has an elasticity of 100% over the whole curve.

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Definitions:

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Moral Hazard

A situation where a party is more likely to take risks because the negative consequences of the risk will be borne by another party.

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