Suppose Diamonds Have an Absolute Price Elasticity of 0, the Demand

question 31

Multiple Choice

Suppose diamonds have an absolute price elasticity of 0, the demand for the good is

• A) unit elastic.
• B) inelastic.
• C) perfectly inelastic.
• D) elastic.

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Definitions:

Martin Seligman

An American psychologist known for his work on the theory of learned helplessness and his contributions to positive psychology, focusing on character strengths and well-being.

Self-discrepancy

The gap between one's actual self and their ideal or ought self, which can lead to feelings of dissatisfaction or discomfort.

Self-perceptions

The way individuals perceive themselves, including their thoughts, feelings, and awareness of their own abilities and characteristics.

Ideal Self

A person's conception of how they would like to be, representing their goals and aspirations in contrast to their actual self.