A Perfectly Elastic Demand Curve

question 24

Multiple Choice

A perfectly elastic demand curve:

• A)is impossible to graph given only the variables of price and quantity demanded
• B)can be represented by a line parallel to the horizontal axis
• C)slopes downward, reflecting the law of demand
• D)can be represented by a line parallel to the vertical axis
• E)slopes upward and to the right, breaking the law of demand

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Definitions:

Expected Time

An estimation of the duration a task or project is most likely to take, considering probabilities of various outcomes.

Probability

A measure of the likelihood that an event will occur.

Specified Time

A defined or agreed-upon duration within which a task, operation, or process is to be completed.

Stated Conditions

Predefined terms and requirements specified before a process or event.