The Price Elasticity of Demand for a Vertical Demand Curve

question 173

Multiple Choice

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

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

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Definitions:

Evolutionary Change

A process through which different kinds of living organisms are thought to have developed and diversified from earlier forms during the history of the earth.

Directional Selection

A mode of natural selection where an extreme phenotype is favored over other phenotypes, causing the allele frequency to shift over time.

Selection Differential

The difference in a particular trait between the selected individuals for breeding and the general population, driving evolutionary changes.

Narrow Sense Heritability

The proportion of phenotypic variance that can be attributed to additive genetic variance, important in the prediction of response to selection.