Perfectly Elastic Demand Occurs When

question 146

Multiple Choice

Perfectly elastic demand occurs when:

• A) consumers are extremely sensitive to a change in price.
• B) the quantity demanded is unchanged when price changes by any amount.
• C) consumers are slow to alter their demand when the price changes.
• D) only large changes in price affect the quantity demanded.

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Definitions:

Finances

The management of money and other assets by an individual, household, or organization.

Adult Child-Grandparent Relationships

The interactions and bonds between adult grandchildren and their grandparents, which can play significant roles in family dynamics and individual well-being.

Grandparents

The parents of one's parents, often playing a role in family support and upbringing of grandchildren.

Raise

An increase, usually referring to an increase in salary or wage.