The Demand for a Good Is Perfectly Elastic When the Price

question 75

Multiple Choice

The demand for a good is perfectly elastic when the price elasticity of demand is

• A)equal to infinity.
• B)between infinity and 1.
• C)equal to 1.
• D)between 1 and zero.
• E)equal to zero.

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Definitions:

Anal Stage

In psychoanalytic theory, the second stage of psychosexual development, focusing on toilet training and control of bodily wastes.

Toilet Training

The process of teaching a young child to use the toilet for urination and defecation.

Sexual Development

The process of physical and emotional changes that occur as a person passes from childhood through adulthood, influenced by genetic, physiological, and sociocultural factors.

Fixation

In psychoanalytic theory, an obsessive focus or attachment to certain behaviors or stages of development that were significant in one's childhood.