If the Own Price Elasticity of Demand Is Infinite in Absolute

question 75

Multiple Choice

If the own price elasticity of demand is infinite in absolute value,then:

• A) demand is perfectly elastic.
• B) the demand curve is vertical.
• C) consumers do not respond at all to changes in price.
• D) the demand curve is vertical and consumers do not respond at all to changes in price.

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Definitions:

Scientific Method

A systematic, empirical method of investigating phenomena, acquiring new knowledge, or correcting and integrating previous knowledge.

Unconscious Mind

A part of the mind that influences thoughts, feelings, and behaviors without our direct awareness, containing desires, fears, and motivations.

Stereotypes

Beliefs that associate groups of people with certain traits.

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Are oversimplified and unfavorable beliefs about a group of people, which can lead to discrimination and social stigma.