If Quantity Demanded Changes Infinitely When the Price Changes, the Demand

question 109

Multiple Choice

If quantity demanded changes infinitely when the price changes, the demand:

• A) is slightly elastic.
• B) is inelastic.
• C) is unit elastic.
• D) is perfectly elastic.

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Definitions:

Fraudulent

Involving deceit, trickery, or breach of confidence, intended to gain an unfair or unlawful advantage.

Tort Of Deceit

A legal wrong involving the intentional misrepresentation of fact, with the aim of making someone rely on it to their detriment.

Non Est Factum

“It is not my act”—grounds for a court to declare a contract void because a party is unaware of the nature of the contract.

Misrepresentation

A false statement of fact that induces someone into entering a contract.