When the Demand Curve Is a Vertical Line, Demand Is

question 126

Multiple Choice

When the demand curve is a vertical line, demand is

• A)relatively elastic.
• B)perfectly inelastic.
• C)unit elastic.
• D)infinitely elastic.
• E)cross-elastic.

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Definitions:

Circumstances

The specific conditions or facts affecting a situation, event, or decision at a certain time.

Evidenced

Evidenced refers to the confirmation or support of a claim, assertion, or fact through the presentation of information, data, or tangible proof.

Purchasers Rights

Legal entitlements or protections that buyers have when they purchase goods or services.

Goods

Physical items that are produced or natural, which can be bought, sold, or traded in the market.