Statement I: a Perfectly Elastic Demand Curve Has the Same

question 57

Multiple Choice

Statement I: A perfectly elastic demand curve has the same elasticity as a perfectly inelastic demand curve.
Statement II: When elasticity is .2,a 1% decline in price will raise quantity demanded by .2%.

• 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.

---

Definitions:

Porous Paper

A type of paper designed with small holes or pores that allow liquids or gases to pass through.

Steam Temperature

Refers to the heat level of steam, which is important for various applications, including sterilization, power generation, and cooking.

Sterile Areas

Zones specifically maintained without any living microorganisms, commonly found in healthcare or laboratory settings to prevent infection.

Sterilization

A process designed to eliminate all forms of life, including transmissible agents, from a particular object or surface.