If the Elasticity of Demand for a Good Is 0

question 217

Multiple Choice

If the elasticity of demand for a good is 0.2,then the demand for that good is

• A)perfectly elastic.
• B)elastic.
• C)unit elastic.
• D)inelastic.
• E)perfectly inelastic.

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Definitions:

Federal Poverty Level

a measure issued annually by the Department of Health and Human Services used to determine eligibility for various federal programs and benefits.

Incomes

The money received by an individual or organization, typically on a regular basis, for work, through investments, or from benefits.

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The cultural experiences, practices, languages, values, and worldviews that shape an individual's identity and perceptions, influenced by the society and community they are raised in.

Poverty

Poverty is a state or condition in which a person or community lacks the financial resources and essentials for a minimum standard of living.