Statement I: a Perfectly Inelastic Demand Curve and a Perfectly

question 14

Multiple Choice

Statement I: A perfectly inelastic demand curve and a perfectly elastic supply curve are represented the same way on a graph.
Statement II: A perfectly elastic demand curve and a perfectly elastic supply curve are represented the same way on a graph.

• A)Statement I is true and statement II is false.
• B)Statement II is true and statement I is false.
• C)Both statements are true.
• D)Both statements are false.

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