We Should Never Assume That an Inelastic Demand Curve Is

question 260

Multiple Choice

We should never assume that an inelastic demand curve is a perfectly inelastic demand curve because

• A) there has never been evidence of a perfectly inelastic demand curve.
• B) an inelastic demand curve may be perfectly inelastic at some times but not others.
• C) perfectly inelastic demand curves are rare.
• D) an inelastic demand curve may be elastic at high prices.

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Definitions:

S-T Segment

The portion of an ECG tracing between the S and T waves, often analyzed for indications of heart conditions.

Forced Vital Capacity

The total volume of air that can be forcibly exhaled from the lungs after taking the deepest breath possible.

Lungs

Pair of respiratory organs in the chest of vertebrates where blood is oxygenated and carbon dioxide is removed.

Air

The invisible gaseous substance surrounding the earth, a mixture mainly of oxygen and nitrogen.