Perfectly Elastic Demand Curves Are Irrelevant, Since Real World Demand

question 218

True/False

Perfectly elastic demand curves are irrelevant, since real world demand curves are never perfectly elastic.

---

Definitions:

Observable Behaviour

Actions or reactions of an individual that can be directly seen and measured, typically forming the basis of behavioral studies.

Environmental Changes

Alterations in the natural or built environment due to natural processes or human activities.

Behaviourist

A proponent of a branch of psychology that studies observable behaviors, often through conditioning, without emphasizing internal processes.

Positive Outcomes

The beneficial results or effects of actions, decisions, or events, often measured in terms of success, progress, or improvement.