Isoelastic Demand Means That

question 46

Multiple Choice

Isoelastic demand means that:

• A) the elasticity of demand is equal to -1.
• B) demand is completely unresponsive to price.
• C) the elasticity is demand is infinite.
• D) the demand function has the same elasticity at every price.

---

Definitions:

Electric-Powered Automobiles

Vehicles that are propelled by electric motors using energy stored in rechargeable batteries, offering an environmentally friendly alternative to gasoline or diesel engines.

Barriers to Adoption

Barriers to adoption are the obstacles that prevent or slow down the acceptance and integration of a new product, service, or innovation by potential users.

Consumer Trial

The process or strategy of encouraging new customers to try a product for the first time.

Free Samples

Small portions or quantities of a product given away for free to promote or test its effectiveness.