Consider the Following Types of Demand Curves

question 224

Multiple Choice

Consider the following types of demand curves:
a. a vertical demand curve
b. a horizontal demand curve
c. a linear downward-sloping demand curve
Which of the demand curves listed exhibits a price elasticity of demand coefficient that remains constant along the demand curve?

• A) a only
• B) b only
• C) a and b only
• D) a, b, and c

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Definitions:

Physiological Balance

The state of equilibrium in the body’s internal environment maintained by various feedback mechanisms, essential for healthy functioning and homeostasis.

Biological Need

A basic requirement of the living organism for its survival, such as food, water, shelter, and oxygen.

Homeostasis

The process by which biological systems tend to maintain stability while adjusting to conditions that are optimal for survival.

Drive

An internal motivational state created by physiological or psychological needs that drives an individual to engage in behaviors to satisfy those needs.