A Demand Curve Is Described as Perfectly Elastic If

question 121

Multiple Choice

A demand curve is described as perfectly elastic if

• A)any quantity can be sold at a given price.
• B)the same quantity is sold regardless of price.
• C)neither price nor quantity demanded ever change.
• D)only price can change.

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Definitions:

Conclusion

The end or finish of an event, process, or text; a judgment or decision reached by reasoning.

Logical Relationship

The connection between ideas that follows a systematic pattern of reasoning, often governed by specific rules or laws of logic.

Pragmatic Reasoning

Thinking that applies practical and context-specific criteria to decision-making or problem-solving.

Syllogistic Reasoning

A form of deductive reasoning where a conclusion is drawn from two given or assumed premises, each of which shares a common term not present in the conclusion.