Suppose the Demand Curve Has a Slope Equal to Negative

question 23

Multiple Choice

Suppose the demand curve has a slope equal to negative 1.The price elasticity of demand at any point on this demand curve is:

• A) infinite.
• B) equal to zero.
• C) greater than 1, but less than infinite.
• D) not described by any of the above.

---

Definitions:

Hans Selye

A pioneering Hungarian-Canadian endocrinologist who is best known for his research on the effects of stress on the human body and developing the concept of the General Adaptation Syndrome.

Sigmund Freud

A neurologist and the founder of psychoanalysis, known for his theories of the unconscious mind and psychosexual development.

Fear of Horses

Known as Equinophobia, it is an intense and irrational fear of horses, often resulting from negative experiences or genetics.

Theories

Systematically organized sets of concepts and propositions intended to explain a phenomenon or body of facts.