A Demand Curve Which Is ________ Represents Perfectly Inelastic Demand

question 285

Multiple Choice

A demand curve which is ________ represents perfectly inelastic demand, and a demand curve which is ________ represents inelastic demand.

• A) downward sloping; vertical
• B) horizontal; downward sloping
• C) vertical; downward sloping
• D) upward sloping; horizontal

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Definitions:

Voidable Title

A situation in which the transfer of title to property can be invalidated due to certain circumstances like fraud or misrepresentation.

Obtained By Fraud

Acquisition of property, assets, or benefits through deceptive practices, misrepresentation, or other dishonest means.

Good Faith Purchaser

An individual who buys property without knowledge of any previous claims, fraud, or problems associated with it, thus protected by law.

Computer Sales & Repair (CSR)

Businesses focused on selling computer hardware and software, as well as providing repair and maintenance services for computer systems.