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Question
When the demand curve is vertical
a. the price elasticity of demand is negative.
b. the price elasticity of demand is positive.
c. the demand for the good is perfectly elastic.
d. the price elasticity of demand is equal to zero.
e. the price elasticity of demand is equal to -1.
Answer
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Related questions
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Suppose Solomon lives in a community with no price controls. What do you expect will happen if his town borders a community where there is a binding price ceiling on most products?
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