In General, the More Elastic a Demand Curve Is, The

question 11

Multiple Choice

In general, the more elastic a demand curve is, the:

• A) flatter it will be.
• B) steeper it will be.
• C) more bowed-in it will be.
• D) faster it will shift when price changes.

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Definitions:

Principle Of Rights

The principle that judges the morality of a decision on the basis of how it affects the rights of all those involved.

Fundamental Rights

Basic and inalienable rights entitled to all individuals, often protected under the constitution of a country.

Rule Utilitarianism

A subset of utilitarianism which holds that general rules that on balance produce the greatest amount of pleasure for all involved should be established and followed in each situation.

Ethical Theory

A systematic exposition of principles or standards of moral conduct that guide individuals in deciding right from wrong behaviors.