A Price Elasticity of Infinity Corresponds to a Demand Curve

question 134

Multiple Choice

A price elasticity of infinity corresponds to a demand curve that is:

• A) horizontal.
• B) downward sloping with a slope always equal to 1.
• C) vertical.
• D) either vertical or horizontal.

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Definitions:

Attachment

The legal process of seizing property of a defendant in a lawsuit by a creditor prior to obtaining a judgment to secure the fulfillment of a judgment.

Bona Fide Purchaser

A person who buys property in good faith, without notice of any prior claims or disputes over the property, and is therefore protected under law.

Attachment

A legal procedure by which a court of law, at the request of a creditor, designates specific property owned by the debtor to be transferred to the creditor or sold for the benefit of the creditor.

Financing Statement

A document filed to give public notice of a secured party's interest in the debtor's personal property.