A Demand Curve That Is Perfectly Inelastic

question 30

Multiple Choice

A demand curve that is perfectly inelastic:

• A) will be vertical.
• B) will be horizontal.
• C) will be upward sloping.
• D) has an elasticity equal to 1 everywhere on the curve.

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Definitions:

Louisiana State University

A public research university located in Baton Rouge, Louisiana, known for its extensive academic programs and vibrant campus life.

Faculty

A group of educators or instructors at an educational institution.

Business Market

The Business Market comprises organizations that acquire goods or services used in the production of other services or goods that are sold, rented, or supplied to others.

NAICS

The North American Industry Classification System, a standard used by Federal statistical agencies for classifying business establishments.