If the Demand Curve Is a Horizontal Line

question 36

Multiple Choice

If the demand curve is a horizontal line,

• A)demand is perfectly elastic
• B)demand is perfectly inelastic
• C)demand is unitary elastic
• D)demand is relatively inelastic
• E)total expenditure is maximized

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Definitions:

Prejudice

Preconceived opinion or bias, often based on stereotypes, towards people, places, or things, without adequate knowledge or reason.

Gerontocracy

A form of societal structure in which the power is held by a significantly older population or the leadership is markedly older than the average adult population.

Stereotypes

Oversimplified and generalized beliefs about a particular group of people or category, often leading to prejudiced attitudes and behaviors.

Inverted Triangle

A shape or diagram where the base is narrower than the top, often used in journalism to prioritize information.