For a Horizontal Demand Curve

question 165

Multiple Choice

For a horizontal demand curve,

• A)the slope is undefined,and the price elasticity of demand is equal to 0.
• B)the slope is equal to 0,and the price elasticity of demand is undefined.
• C)both the slope and price elasticity of demand are undefined.
• D)both the slope and price elasticity of demand are equal to 0.

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Definitions:

Revenue

The aggregate revenue derived from selling goods or services that are fundamental to an organization's main activities.

Account Payable

Money owed by a business to its suppliers or creditors for goods and services purchased on credit, considered a current liability.

Owner's Equity

The residual interest in the assets of the entity after deducting liabilities, representing the ownership interest of shareholders.

Cash Payment

A transaction that involves the immediate transfer of cash from the buyer to the seller for the purchase of goods or services.