If a Demand Curve for a Good Were Completely Vertical

question 78

Multiple Choice

If a demand curve for a good were completely vertical, it would be considered:

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

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Definitions:

Standard Benefits

Typical or customary advantages provided to employees beyond their wages, such as health insurance, retirement plans, and paid time off.

Endorphins

Natural chemicals in the body that interact with brain receptors to reduce pain perception and boost feelings of pleasure or satisfaction.

Mineralocorticoids

A class of corticosteroids that are involved in regulating sodium and potassium balance in the body.

Prostaglandins

A group of lipids made at sites of tissue damage or infection that are involved in injury and illness processes, such as inflammation.