A Perfectly Elastic Demand Curve Has a Slope of ________

question 79

Multiple Choice

A perfectly elastic demand curve has a slope of ________ while a perfectly inelastic demand curve has a slope of ________.

• A)infinity; 0
• B)1; 0
• C)0; 1
• D)0; infinity

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Definitions:

Intersection

The point at which two lines or paths cross each other, or the set of elements common to two or more sets.

Independent Events

Two events are independent if the outcome of one does not affect the outcome of another.

P(A|B)

The likelihood of event A happening, provided that event B has already taken place, signifying a conditional probability.

Disjoint Events

Disjoint events are two or more events that cannot occur simultaneously, indicating there is no overlap in their outcomes.