Which of the Following Is a Property of the Demand

question 147

Multiple Choice

Which of the following is a property of the demand curve facing a perfectly competitive firm?

• A) It is unit elastic.
• B) It is downward sloping.
• C) It is perfectly inelastic.
• D) It is perfectly elastic.

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Definitions:

U.S. Economy

The economic system of the United States, characterized by private enterprise, diverse industries, and global trade relations.

Truth in Lending Act

A U.S. federal law designed to promote the informed use of consumer credit by requiring disclosures about its terms and cost.

Consumer Credit Advertising

Marketing efforts aimed at promoting credit transactions to consumers, regulated to ensure fairness and transparency.

Baiting

involves luring someone by offering something enticing but not intending to deliver as promised, often used in deceptive marketing practices.