A Good with a Vertical Demand Curve Has a Price

question 151

Multiple Choice

A good with a vertical demand curve has a price elasticity of demand that

• A) is equal to 1.
• B) is equal to infinite.
• C) is equal to zero.
• D) varies between 0 and 1.

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Definitions:

Experimenter Bias

A type of research bias where the expectations or preferences of the researcher influence the outcomes of the study.

Researcher's Expectations

Preconceived beliefs or predictions about the outcome of a study, which can potentially influence the results unintentionally.

Statistically Significant

A term used to describe a result that is unlikely to have occurred by chance alone, according to a pre-determined threshold in hypothesis testing.

Observed Findings

Results or outcomes that have been noticed or recorded during a research study or experiment.