The Price Elasticity of Demand for a Vertical Demand Curve

question 140

Multiple Choice

The price elasticity of demand for a vertical demand curve is:

• A) perfectly elastic.
• B) perfectly inelastic.
• C) unitary elastic.
• D) elastic.

---

Definitions:

Mandatory Bargaining

A legal requirement for employers to negotiate with duly elected employee representatives on work conditions, pay, and other employment terms.

Contract Costing

A method used in accounting to track costs associated with a specific contract, often used in industries like construction where work is project-based.

Mandatory Bargaining Issues

Subjects that must be discussed during collective bargaining negotiations, such as wages, hours, and working conditions.

Unilateral Changes

Actions taken by an employer to alter conditions of employment (such as wages, hours, or terms and conditions) without consultation or agreement with the union representing the employees.