If a Good Is Perfectly Inelastic in a Given Price

question 203

True/False

If a good is perfectly inelastic in a given price range, it will be perfectly inelastic at all prices.

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Definitions:

Equivocation

The misleading use of a term with more than one meaning or sense, causing a fallacy in argumentation due to ambiguous language.

Appeal to Ignorance

A logical fallacy in which it is claimed that a proposition is true because it has not yet been proven false, or vice versa.

Burden of Proof

The obligation to prove one's assertion or argument, typically resting on the party who makes a claim in a dispute.

Fallacy

A deceptive, misleading, or false notion, belief, or argument; often, a statement or argument based on a false or invalid inference.