When Demand Is Perfectly Inelastic

question 145

Multiple Choice

When demand is perfectly inelastic:

• A) the demand curve is perfectly vertical.
• B) the demand curve is perfectly horizontal.
• C) the measured elasticity is exactly −1.
• D) the response to a change in price is immediate.

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Definitions:

Introspection

The examination or observation of one's own mental and emotional processes.

Hypnagogic Perception

Experiences of vivid sensory phenomena that occur during the transition from wakefulness to sleep.

Delta Brain

Pertaining to the delta brain waves, which are the slowest brain waves and are associated with deep sleep and unconscious information processing.

Childish Modes

Patterns of behavior that are typically associated with children, such as dependency, simplicity in problem-solving, or immediate gratification seeking.