Which of the Following Statements Is FALSE

question 322

Multiple Choice

Which of the following statements is FALSE?

• A) A good with a vertical demand curve has a perfectly inelastic demand.
• B) A good with a straight line, downward sloping demand curve has a demand whose elasticity is constant.
• C) A good with a horizontal demand curve has a perfectly elastic demand.
• D) All of the above statements are false.

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Definitions:

Correlation Coefficient

A numerical measure of some type of correlation, meaning a statistical relationship between two variables, ranging from -1 to 1.

Mean

A type of average calculated by summing values and dividing that sum by the number of values.

Average Scores

The mean value calculated by adding all the scores together and dividing by the number of scores.

Dependent-Samples T-Test

A statistical procedure used to compare the means of two related groups, indicating whether there's a significant difference under the assumption of normally distributed differences.