A Consumer Is Willing and Able to Buy 1,000 Units

question 298

Multiple Choice

A consumer is willing and able to buy 1,000 units of a good at $10, but the consumer's quantity demanded falls to zero if the price rises even a fraction of a cent. The consumer's demand curve is

• A) horizontal and is perfectly inelastic.
• B) horizontal and is perfectly elastic.
• C) vertical and is perfectly elastic.
• D) downward sloping from higher prices down to $10 and then horizontal.

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Definitions:

Fatty Acids

Organic compounds that are important components of lipids in bodies, consisting of a long hydrocarbon chain and a terminal carboxyl group.

Cellulose

A complex carbohydrate, and major component of plant cell walls, that provides structural support to plants.

Digestive Enzymes

Proteins secreted by the digestive tract that catalyze the breakdown of food into smaller absorbable components.

Roughage

Dietary fiber found in fruits, vegetables, and whole grains that aids in digestion and prevents constipation.