A Line That Is Perfectly Elastic Has an Elasticity of Demand

question 125

True/False

A line that is perfectly elastic has an elasticity of demand of zero.

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Definitions:

Paternalism

A policy or practice of treating or governing people in a fatherly manner, especially by providing for their needs without giving them rights or responsibilities.

13th Amendment

Amendment to the United States Constitution, ratified in 1865, which abolished slavery and involuntary servitude, except as punishment for a crime.

Emancipation

The act of being freed from restraint, bondage, or slavery, often used in the context of the abolition of slavery in the United States.

President Johnson

Lyndon B. Johnson, the 36th President of the United States, who served from 1963 to 1969, notable for his domestic policies and involvement in the Vietnam War.