If the Demand Curve for a Product Is Vertical,then the Elasticity

question 113

Multiple Choice

If the demand curve for a product is vertical,then the elasticity of demand is:

• A) equal to zero.
• B) equal to one.
• C) greater than one, but less than infinity.
• D) equal to infinity.

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Definitions:

Partnership

A lawful collaboration between two or more parties to manage a business and share its profits.

Withdraw Assets

The act of taking out assets, typically cash, from a business by its owner for personal use.

Partnership

A business structure in which two or more individuals manage and operate a business in accordance with the terms and objectives set out in a Partnership Agreement.

Articles of Partnership

A document that outlines the terms, conditions, and agreements among partners in a business partnership.