The CT Number for Water Is

question 27

Multiple Choice

The CT number for water is:

• A) -1000
• B) -100
• C) 0
• D) 1000

---

Definitions:

Perfectly Price Elastic

This refers to a situation where the demand for a product or service changes infinitely with a very small change in price.

Supply Curve

A graphical representation that shows the relationship between the price of a good or service and the quantity supplied by producers.

Horizontal

A direction or plane that runs parallel to the ground or horizon.

Income Elasticity

A measure of how much the demand for a product or service changes with a change in consumers' income.