A Good with a Unit Elastic Demand Has A

question 101

Multiple Choice

A good with a unit elastic demand has a:

• A) perfectly horizontal demand curve.
• B) perfectly vertical demand curve.
• C) price elasticity greater than 1.
• D) price elasticity equal to −1.

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Definitions:

Profit-Sharing Plan

A company program that gives employees a share in the profits of the company.

Intermittent Reinforcement

A behavioral training strategy where rewards or punishments are given out irregularly, contributing to stronger or more lasting behavioral responses.

Successive Approximations

A process of breaking down a complex skill or behavior into smaller, achievable steps and rewarding progress.

Desired Behavior

The target behavior that is sought after or desired to be increased or nurtured.