If the Demand Curve Is Perfectly Elastic, the Elasticity Coefficient

question 132

Multiple Choice

If the demand curve is perfectly elastic, the elasticity coefficient is ____ and the curve is ____.

• A)​zero, vertical
• B)​infinity, horizontal
• C)​zero, horizontal
• D)​infinity, vertical

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Definitions:

Normally Distributed

A statistical distribution that is symmetrical about the mean, where most observations cluster around the central peak and the probabilities for values further away from the mean taper off equally in both directions.

Parameters

In statistics, parameters are numerical characteristics of a population, such as its mean or standard deviation.

Independent

In a statistical context, refers to variables or events that are not influenced by other variables in a study; their occurrence does not depend on another.

ANOVA Table

A tabular representation used in the analysis of variance to summarize the sources of variation among group means.