If a Good Has an Absolute Price Elasticity of 0

question 42

Multiple Choice

If a good has an absolute price elasticity of 0, the demand for the good is

• A) unit elastic.
• B) inelastic.
• C) perfectly inelastic.
• D) elastic.

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Definitions:

Independent Samples

Samples that are collected from distinct, non-overlapping populations such that the observations in one sample are not related or paired with observations in the other sample(s).

Population Distributions

The spread of characteristics or values within a whole population.

Average Ages

The mean value of the ages within a specific group or dataset, calculated by adding all the ages together and dividing by the total number of ages included.

Pooled Variance

An estimate of variance across different samples or groups that assumes the underlying population variances are equal.