Asked by
Mariana Anghel
on Nov 25, 2024
Verified
A demand curve that is parallel to the horizontal axis is
A) perfectly inelastic.
B) perfectly elastic.
C) relatively inelastic.
D) relatively elastic.
Demand Curve
A graphical representation showing the relationship between the price of a good and the quantity demanded by consumers.
Perfectly Elastic
A demand situation where a small change in price leads to an infinite change in the quantity demanded.
- Absorb the relationship between the elasticity of demand and the slant of the demand curve.
Verified Answer
ST
Learning Objectives
- Absorb the relationship between the elasticity of demand and the slant of the demand curve.