If the Demand Curve for a Product Is Horizontal, Then

question 358

Multiple Choice

If the demand curve for a product is horizontal, then

• A) the demand for the product is perfectly inelastic.
• B) the demand for the product is perfectly elastic.
• C) only a certain amount of the product will be consumed regardless of price.
• D) the price elasticity of the product approaches zero.

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Definitions:

Brand and Reputation

The distinct identity and public perception of a company or product, shaped by consumer experiences, advertising, and media.

Short-termism

The focus on achieving immediate results or gains, often at the expense of long-term objectives or sustainability.

Sustainability

The practice of meeting current needs without compromising the ability of future generations to meet theirs, often focusing on environmental conservation and resource management.

Global Consumption

The total amount of goods and services consumed around the world.