If the Demand for Good Z Is Perfectly Inelastic,then the Demand

question 103

Multiple Choice

If the demand for good Z is perfectly inelastic,then the demand curve for good Z is

• A)vertical.
• B)horizontal.
• C)upward sloping.
• D)downward sloping.
• E)initially upward sloping and then downward sloping.

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Definitions:

Standard Deviation

A statistic that measures the dispersion of a dataset relative to its mean and is calculated as the square root of the variance.

Coefficient Of Variation

A measure of relative variability calculated as the standard deviation divided by the mean, often expressed as a percentage.

Population Standard Deviation

A measure of the dispersion or spread of a set of values in a population, indicating how much variation exists from the average.

Variance

The measure of how far each number in the dataset is from the mean and from each other, indicating the spread of the distribution.