The Bell-Shaped Curve, or Normal Distribution, Is Considered

question 42

Multiple Choice

The bell-shaped curve, or normal distribution, is considered:

• A) discrete.
• B) downward sloping.
• C) linear.
• D) continuous.

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Definitions:

Price Elastic

Refers to the responsiveness of the quantity supplied or demanded of a good or service to a change in its price, often interchangeable with Price Elasticity of Demand or Supply depending on context.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price level in a given market at a specific time period.

Perfectly Inelastic

A situation where the quantity demanded or supplied does not change in response to a change in price.

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity of that good consumers are willing and able to purchase at various prices.