Suppose the Price Change of a Good Causes No Change

question 12

Multiple Choice

Suppose the price change of a good causes no change in quantity demanded, we would say that the item is

• A) perfectly elastic.
• B) perfectly inelastic.
• C) infinitely elastic.
• D) unitary elastic.

---

Definitions:

Proportion of Defective

The ratio of defective items in a batch or lot to the total number of items.

Margin of Error

An expression of the amount of random sampling error in a survey's results.

Binomial Populations

Groups of individuals or events subjected to a binomial experiment, where outcomes are categorized into two distinct categories.

Independent Random Samples

Groups of randomly selected samples from a population where the selection of an item for one sample does not influence the selection for another sample.