If the Price of Salt Increases and the Quantity Demanded

question 530

Multiple Choice

If the price of salt increases and the quantity demanded does not change, then

• A) the price elasticity of demand is equal to zero.
• B) demand is perfectly inelastic.
• C) the demand curve for salt is horizontal.
• D) Both answers A and B are correct.

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Definitions:

Specific Gravity

The ratio of the density of a substance to the density of a reference substance, often water, indicating its relative heaviness.

Alkaline

Having a pH greater than 7, indicating a substance's basicity or lack of acidity.

Successors

In project management, these are tasks or activities that follow others and are dependent on the completion of preceding tasks for their start or finish.

Dependency

A situation where the outcome or occurrence of one event or task is contingent upon another within a project or process.