The List Below Refers to the Price Elasticity of Demand

question 129

Multiple Choice

The list below refers to the price elasticity of demand.
1) perfectly inelastic
2) perfectly elastic
3) unitary elasticity
4) elastic
5) inelastic
-Refer to the information above to answer this question.What is a demand curve that is parallel to the vertical axis?

• A)1.
• B)2.
• C)3.
• D)4.
• E)5.

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Definitions:

Unimodal

A description of a distribution that has a single peak or mode; characterized by having one predominant value or central tendency.

Six-Sided Die

A common gaming object with six faces, each displaying a different number of dots from one to six.

Bimodal

Describing a distribution that has two distinct peaks or modes, indicating two prevalent values.

Skewed

A term used in statistics to describe a situation where a dataset or distribution displays a lack of symmetry around the mean value.