If Demand Is Perfectly Inelastic, the Absolute Value of the Price

question 23

Multiple Choice

If demand is perfectly inelastic, the absolute value of the price elasticity of demand is

• A)zero.
• B)less than one.
• C)more than one.
• D)equal to the absolute value of the slope of the demand curve.

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Definitions:

Stimulus Discrimination

The ability to differentiate between various stimuli, responding differently based on their distinct characteristics.

Classical Conditioning

The process in which learning is achieved by regularly pairing two stimuli until a response once caused by the second stimulus becomes caused by the first stimulus.

Conditioned Stimulus

A stimulus that was once neutral but, after pairing with an unconditioned stimulus, now triggers a conditioned response.

Higher-order Conditioning

A form of conditioning involving the modification of reaction to a neutral stimulus by first associating this stimulus with another conditioned stimulus.