If the Price Elasticity of Demand Is 1

question 248

Multiple Choice

If the price elasticity of demand is 1.5,regardless of which two points on the demand curve are used to compute the elasticity,then

• A) demand is perfectly inelastic,and the demand curve is vertical.
• B) demand is elastic,and the demand curve is a straight,downward-sloping line.
• C) demand is perfectly elastic,and the demand curve is horizontal.
• D) demand is elastic,and the demand curve is something other than a straight,downward-sloping line.

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Definitions:

Organic Products

Substances derived through chemical reactions involving organic compounds, often referring to the output of organic synthesis.

Highest Occupied

Pertaining to the highest energy level that contains electrons in an atom or molecule under ground state conditions.

Molecular Orbital

A region in a molecule where electrons are most likely to be found, representing the quantum mechanical behavior of electrons in molecules.

Conjugated Pi System

A molecular structure where alternating single and double bonds allow electrons to be more delocalized and contribute to the molecule's stability.