If the Price Elasticity of Demand Is 1

question 84

Multiple Choice

If the price elasticity of demand is 1.5,regardless of which two points on the demand curve are used to compute the elasticity,then demand is

• A)perfectly inelastic,and the demand curve is vertical.
• B)elastic,and the demand curve is a straight,downward-sloping line.
• C)perfectly elastic,and the demand curve is horizontal.
• D)elastic,and the demand curve is something other than a straight,downward-sloping line.

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Definitions:

Orange Odor

A characteristic smell associated with orange or citrus fruits, often due to the presence of compounds like limonene.

Acid Chloride

A class of organic compounds derived from carboxylic acids by replacing the hydroxyl group with a chlorine atom, used in organic synthesis.

Fischer Esterification

A chemical reaction that forms an ester upon the treating of an alcohol with a carboxylic acid in the presence of acid catalyst.

Acetic Acid

A clear, colorless liquid with a strong vinegar odor, widely used as a solvent and chemical reagent, particularly in the production of vinyl acetate monomer and acetic anhydride.