A Perfectly Inelastic Demand Curve

question 111

Multiple Choice

A perfectly inelastic demand curve:

• A)rises upward and to the right but has a constant slope
• B)can be drawn as a line parallel to the vertical axis
• C)cannot be shown on a two-dimensional graph
• D)can be represented by a line parallel to the horizontal axis

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Definitions:

Quota

A fixed share or a target that has to be met, often used in the context of sales, production, or immigration.

Secretary of State

A high-ranking official in the government responsible for foreign affairs or domestic administrative matters, depending on the country.

Minor

A person under the legal age of adulthood, which varies by country but is commonly 18 years old, and therefore has restricted legal rights and responsibilities.

Voidable

A legal term describing a transaction or action that is valid until it is annulled or voided by one of the parties involved.