When Demand Is Perfectly Elastic

question 78

Multiple Choice

When demand is perfectly elastic:

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

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Definitions:

Volunteers

Individuals who offer their time and services willingly and without financial compensation, often for community service or humanitarian causes.

Foot-In-The-Door Technique

A persuasion strategy that involves getting a person to agree to a small request as a precursor to getting them to agree to a larger request.

Defense Of Apathy

A psychological state or coping mechanism where an individual shows a lack of interest, enthusiasm, or concern towards aspects of life or a particular situation.

Contribution

Offering or providing something, such as an idea, service, or financial aid, intended to help or benefit others.