A Perfectly Elastic Demand

question 19

Multiple Choice

A perfectly elastic demand:

• A) means consumers are extremely sensitive to a change in price.
• B) means quantity demanded is unchanged if the price changes by any amount.
• C) is demonstrated by a vertical demand curve.
• D) has a price elasticity of 1.

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Definitions:

Unity

The state or quality of being united or joined as a whole, often emphasizing harmony, coherence, and agreement among the members of a group or the elements of a composition.

Self-Consistency

The maintaining of coherence and congruence among one’s beliefs, attitudes, and behaviors over time.

Adaptive Modes

Strategies or responses that individuals or groups use to adjust to changes in their environment to maintain or restore health.

Proposition Statements

Sentences or assertions in logic that express judgments or opinions that can be considered true or false.