If Consumers Completely Cease Purchasing a Product When Its Price

question 20

Multiple Choice

If consumers completely cease purchasing a product when its price increases by any amount,demand is classified as:

• A)elastic.
• B)perfectly inelastic.
• C)unitary elastic.
• D)perfectly elastic.

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Definitions:

Communication Technologies

Tools and platforms used to facilitate and enhance the sharing of information.

Electronic Bullying

The use of electronic communication technologies to bully or harass an individual, typically by sending messages of an intimidating or threatening nature.

Job Demands

The physical, social, psychological, and organizational aspects of a job that require sustained physical and/or psychological effort or skills and therefore are associated with certain physiological and/or psychological costs.

Probability of Death

The statistical likelihood or chance of an individual dying within a given time period, often used in health and insurance contexts.